Chinese authority calls for strengthened regulation on online payment businesses

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China will include platform companies' payment businesses and other financial activities into the scope of government supervision, while pushing large payment companies to "go back to their basics" and prevent systemic financial risks, according to a top financial policy meeting on Wednesday.

China will strengthen payment regulations and systems and risk prevention mechanisms, intensify whole-chain, all-field supervision, as well as insist that platforms must hold licenses to carry out financial business, according to . . .

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