Beijing makes platforms comply with fines

Beijing is continuing its crackdown on the most powerful tech companies in the platform economy. The focus is currently on providers of financial services. After Ant Financial had to completely reorganize itself (China.Table reported), it is now the turn of its somewhat smaller competitors. The financial regulator has summoned representatives from Tencent (WeChat), ByteDance (TikTok), JD, Meituan, and DiDi to impose new restrictions on them. In total, 13 platform operators with strong financial arms are affected.