May 05, 2022 05:41 AM

China’s Central Bank Vows Normalized Supervision of Tech Sector

What’s new: China’s central bank will adopt normalized supervision of internet platform companies’ financial activities and will support the sector’s healthy development, the People’s Bank of China (PBOC) said, backing up recent remarks from top policymakers signaling an easing of the year-long tech sector crackdown.

The PBOC will promote completion of a special rectification of platform companies’ financial businesses, introduce normalized supervision and bolster the sector’s healthy development, the central bank said in a statement published Wednesday on its official website.

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