China Continues To ‘tighten Pliers’ With Technology Corporations

The Governor of the People's Bank of China (PBOC) CORRECTION OF THE STATEMENTS This country will continue to strengthen supervision of online payment services and prevent monopoly behaviors in the future 9: 00/2: 09 Southern China continues to 'squeeze pincer' with technology corporations (illustrated). Detective, spoke at the Vietnam Bank's International Transaction Management Conference on October 7, PBOC governor indicating that the bank will strengthen the monitoring of the field of payment and requires all payment service companies to have a operation license. At the same time, the head of PBOC noted that many technology companies The country's head has signs of collecting large amounts of data from users so PBOC will continue to coordinate with antitrust officials to limit violations and proactively respond to acts of taking advantage of algorithms And the forms of opposing other competitions. This Operation of PBOC shows that the big Chinese technology he will continue to be controlled, even if they are currently Has been affected by a series of management regulations, from the way of implementing transactions and services to how to exploit huge amount of data stored every day. The patent is looking to monitor the collection And use unlimited user data

. In fact, China is seeking to establish a data management mechanism, efforts to create a balance between stronger government control, protecting personal privacy and encouraging an economy. The prosperous development number, where data is used as a key resource for production, along with land, labor resources and capital. From the end of last year until this year, China has tightened management, Control for online payment activities Specifically, at the beginning of the year, PBOC forced ANT Group, the financial company of the Alibaba Trade Group to "adjust" businesses in the field of financial technology (Fintech), from asset management, said Insurance to consumer loans. Strict experts identify the Chinese government's moves to curb alibaba's expansion and other technology companies. CACs from the beginning of the year have also announced a stricter of the bill than digital technology. Names familiar with the population of networks from Alibaba to Bytedance, Weibo or Tencent ... have been constantly controlled tightly. Government also conducted a resolution of consumers about consumers with violations Technology companies achieve rapid progress in the use of advanced tools, from face recognition to large data. Antheo Xinhuanet

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