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China's non-bank payment industry warned of antitrust risks in PBOC's proposed new rules

By MLex Staff ( January 21, 2021, 06:42 GMT | Insight) -- The People’s Bank of China, the country's central bank, has proposed rules to guard against antitrust risks in its draft regulations to govern non-bank payment companies such as Alipay and WeChat Pay. The PBOC has called on the country’s antitrust agency to stop companies in the sector from abusing their dominant positions, cease the implementation of concentrations, or split up the dominant non-bank payment institutions, when the service providers seriously harm the healthy development of the market.The People’s Bank of China, the country's central bank, has proposed rules to guard against antitrust risks in its draft regulations to govern non-bank payment companies such as Alipay and WeChat Pay....

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