Chinese regulators warn fintech firms against anti-monopoly behavior

Chinese financial regulators have summoned 13 companies engaged in online finance services, including Tencent and Bytedance, and told them to strengthen anti-monopoly measures.

The regulators, which include the People’s Bank of China (PBOC) and China’s securities and banking regulators, said in a statement Thursday that they had summoned companies including Xiaomi’s fintech arm; Tencent; Bytedance; e-commerce platform JD.com’s JD Finance, and the finance arm of food delivery platform Meituan.