Analysis, Regulation & Supervision

China increased fines to financial firms by 2,500% in 2023

By John Crowley
Financial firms to firms
Image via Getty

Fines to financial firms by Chinese regulators leapt by nearly 2,500% last year to $1.4bn, according to an analysis by regtech Fenergo

The surge is a reflection of China’s political intentions to crack down on payment service providers within the first half of 2023. 

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