Crackdown on internet firms is ‘basically done’ – PBoC party chief

Alibaba
Tech giant Alibaba has been the focus of a regulatory crackdown since 2020

Chinese regulators’ clampdown on the internet sector is nearing an end, according to the People’s Bank of China’s party secretary Guo Shuqing.

The campaign to revamp 14 internet platform companies’ financial businesses is “basically complete”, the senior official said in an interview with Xinhua news agency on January 7. Guo added that there are few remaining issues to resolve.

The move comes as authorities shift their focus towards growth. At an agenda-setting annual economic work conference

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