National Development and Reform Commission and other departments: Strictly regulate platform enterprises' investment in financial institutions and local financial organizations

The National Development and Reform Commission and other departments issued a number of opinions on promoting the healthy and sustainable development of platform economic norms. The opinions propose to strengthen the supervision of the payment field, disconnect the improper connection between payment instruments and other financial products, govern the exclusive or "two-choice" behavior in the payment process according to law, strengthen the supervision of the abuse of the market dominance of non-bank payment services, and study and introduce regulations on non-bank payment institutions. Standardize the use of platform data, strictly supervise credit reporting business, and ensure licensed and compliant operations in accordance with law. Implement the regulatory system for financial holding companies, strictly review the qualifications of shareholders, strengthen penetrating supervision, and strengthen comprehensive risk management and related party transaction management. Strictly regulate platform enterprises' investment in financial institutions and local financial organizations, and urge platform enterprises and their holding and shareholding financial institutions to strictly implement capital and leverage ratio requirements. (CBN)