Regulators believe that Ant Group, founded in 2014, harnesses personal data from its payment app Alipay, giving the fintech a competitive advantage over smaller lenders and big banks, officials and government advisers familiar with the matter told the Journal.
Chinese regulators may require Ant to feed its data into a nationwide credit-reporting system run by the People's Bank of China, the people said. An alternative would be for Ant to share data with a credit-rating company that is effectively controlled by the bank, which is part of the country's State Council, they said.
"How to regulate data monopolies is at the heart of the issue here," an antitrust committee adviser of the State Council told the Journal.
That's why we cannot allow Huawei in. Beijing can pressure any Chinese company anytime to do what their security apparatus wants
PCC murdered him.
Gone to the moon 🌝 he B back?
He disappeared himself, or Chyna disappeared him
Lays low...?