The financial management department will promote the rectification of financial business for platform enterprises from beginning to end, focusing on improving the level of normalized financial supervision for platform enterprises. Platform | Economy | Enterprise
In recent years, the financial management department has adhered to the principle of balancing development and regulation, established and improved the governance system of the platform economy, introduced a series of institutional measures, and initially formed a framework for the development and supervision of financial business of platform enterprises, promoting the standardized and healthy development of the platform economy. Since November 2020, from the perspective of strengthening supervision in accordance with the law and effectively preventing risks, the financial management department has urged and guided large platform enterprises such as Ant Group and Tencent Group to comprehensively rectify illegal and irregular issues in their financial activities. At present, most of the prominent problems in the financial business of platform enterprises have been rectified. The focus of the financial management department has shifted from promoting centralized rectification of platform enterprise financial business to normalized supervision.
Recently, in response to the illegal and irregular behaviors of Ant Group and its subsidiaries in corporate governance, financial consumer protection, participation in banking and insurance institution business activities, payment and settlement business, fulfillment of anti money laundering obligations, and fund sales business in previous years, the financial regulatory authorities have imposed a fine of 7.123 billion yuan on Ant Group and its subsidiaries in accordance with the People's Bank of China Law, Anti Money Laundering Law, Banking Supervision and Administration Law, Insurance Law, Securities Investment Fund Law, and Consumer Rights Protection Law. Require Ant Group to shut down the illegal "Mutual Treasure" business and compensate consumers for their interests in accordance with the law. In addition, in response to the problems found in previous law enforcement inspections, the financial regulatory authorities have recently imposed administrative penalties on Postal Savings Bank, Ping An Bank, PICC Property and Casualty Insurance, and Tenpay Company.
Next, the financial management department will fully, accurately, and comprehensively implement the new development concept, focus on improving the level of normalized supervision of platform enterprise financial business, and legally include all types of financial activities in supervision, ensuring that similar businesses are subject to the same regulatory rules and achieving fair supervision. Adhere to the "two unwavering principles", implement financial policies and measures to promote the healthy development of the platform economy, support and encourage platform enterprises to continuously improve financial inclusiveness, promote technological and financial innovation, enhance international financial competitiveness, and better serve the real economy and people's needs.