Salem Radio Network News Wednesday, August 4, 2021

Business

China says measures against Ant to be imposed on other payment firms

BEIJING (Reuters) – China’s central bank said on Thursday that measures against Alibaba’s Ant Group will also be imposed on other payment service companies.

“The monopolistic behavior does not only exist in the Ant Group, but also in other institutions,” said Fan Yifei, vice governor of the People’s Bank of China (PBOC), told a media conference in Beijing.

Fan added that measures will be revealed soon, without further elaboration.

(Reporting by Cheng Leng and Ryan Woo; Editing by Kim Coghill)

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Bob Gorrell
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