Briefing
asia

ByteDance to Scale Back Fintech Services

By
Shai Oster
· · Source: Reuters

ByteDance will scale back its fintech operations and sell its brokerages, Reuters reported, amid tightening oversight of online financial services. The owner of TikTok, the global hit short-video app, operates stock brokerages Songshu Zhengquan in Hong Kong and Haitun Gupiao in mainland China. Last year, China ordered Alibaba’s financial services affiliate Ant Financial to restructure after...

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