BEIJING (Reuters) – The recent anti-trust measures in China are not aimed at private companies, and will not impede their development, the chief regulator of banking and insurance said Friday.
“Trust measures do not focus on private enterprises, or focus on one particular company,” Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said at a news conference in the Chinese capital .
Liang’s comments came after reference to recent talks by financial regulators with Alibaba’s fintech giant Ant Group.
Banks and insurers are encouraged to cooperate with internet platforms in accordance with laws and regulations, Liang said.
Reciting with Tian Qiao, Cheng Leng, Zhang Yan and Ryan Woo; Edited by Clarence Fernandez