JD Technology, the fintech arm of online retailer JD.com, has increased the registered capital of an online micro-lending business for the second time in four months to comply with a tighter regulatory regime expected to come into effect by the end of the year, Caixin reported.
The small loans industry, dominated by Ant Group, Tencent Holdings and JD.com, has been on notice of the impending changes since November 2020, when the People’s Bank of China and the China Banking and Insurance Regulatory Commission issued draft guidelines.
Read the full report: Caixin.
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