Chinese authorities are preparing new control measures for the largest technological companies in the country. They will be forced to disable payment systems from their applications, writes The Wall Street Journal.
Restrictions will affect at least 13 Chinese companies, including Tencent with Messenger WECHAT, BYTEDANCE – Tiktok owner, DIDI Crashing. Regulators of China see the threat of national security in the fact that organizations issue loans without a banking license using personal user data from their own payment systems. In Wechat Messenger, about a billion customers from the people of the PRC.
According to the official statement of the authorities, all 13 firms agreed to adjust their activities. The organization itself did not comment on the publication.
This step is one of the largest in terms of the supervision of the Chinese Communist Party for the Internet business. Among the restrictions already undertaken – the IPO disruptment and verification of the Alibaba subsidiary – Ant Group.