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China will step up its antitrust investigations into the mobile payment sector, which has been dominated by a few private financial technology firms, despite the progress made last year, a deputy governor of the central bank said.
“The antitrust actions in the payment sector need to deepen,” Fan Yifei said at the China Payment and Clearing Forum in Beijing. “The central bank will persistently urge platform companies to rectify their payment businesses.”
Mobile payments are one of the most visible parts in China’s fast-growing digital economy, which rose by 9.6 per cent . . .
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