Reuters reveals Chinese regulators to push tech giants on consumer credit data | Reuters News Agency
Technology

Reuters reveals Chinese regulators to push tech giants on consumer credit data

Reuters revealed that China plans to push tech giants, including Ant Group, Tencent and JD.com, to share consumer loan data to prevent excess borrowing and fraud, in Beijing’s latest tightening of scrutiny. The plan, if implemented, would effectively end the government’s laissez-faire approach to the industry. Large Internet platforms have tended to resist handing over their data, a crucial asset that helps them run operations, manage risk and lure new customers. Chinese regulators, including the central bank, plan to instruct internet platforms to feed their vast loan data to some of the nationwide credit agencies.

Article Tags
Topics of Interest: Technology
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
FILE PHOTO: A sign of Ant Group is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/File Photo
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