SHANGHAI -- China will require nonbank payment apps such as Ant Group's Alipay to report new products and stock market listings to authorities, seeking to regulate a fast-expanding financial technology sector that has become a vital part of the way Chinese pay for transactions.
China tech
China orders Alipay and other payment apps to report business moves
Nonbank service providers must disclose new products and IPOs beforehand
China's tougher restrictions on payment service providers aim to prevent a major glitch in digital transactions.
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