China's Ant Group shares credit data with central bank

China's Ant Group shares credit data with central bank

2 years ago
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https://apnews.com/d2ac22f39a2508f7e912ddde821ad114

BEIJING (AP) — China’s central bank will soon have access to private credit information of hundreds of millions of users of Ant Group’s online credit service, in a move signaling more regulatory oversight of the financial technology sector.

Huabei, Ant Group’s credit service, said in a statement that consumer credit data it has collected will be included in the People’s Bank of China’s financial credit information database.