China techChinese regulators summon fintech giants including Tencent and ByteDance
Financial watchdogs ban senior execs from holding multiple positions across business
Chinese authorities have summoned 13 fintech companies, including WeChat Pay owner Tencent Holdings and TikTok owner ByteDance. (Source photos by Getty images and Reuters)
ALEX FANG and YIFAN YU, Nikkei staff writers
April 30, 2021 01:12 JST
Updated on April 30, 2021 03:46 JST
NEW YORK/PALO ALTO, U.S. -- Chinese authorities summoned 13 companies in the financial technology sector including Tencent Holdings and ByteDance for a "supervision interview" Thursday, as Beijing looks to further tighten regulations on the sector following its crackdown against Ant Group.