China to strengthen anti-trust regulatory powers: state media

FILE PHOTO: Chinese President Xi Jinping applauds at the closing session of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China March 10, 2021. REUTERS/Carlos Garcia Rawlins

BEIJING (Reuters) - China will strengthen anti-trust regulatory powers to push forward healthy, sustainable development of internet platforms, state CCTV television quoted President Xi Jinping as saying at a regular top-level economic meeting on Monday.

China will improve the making of laws and regulations over internet platform companies to “fill in the gaps and loopholes in rules” to step up regulatory framework design on data ownership. It will also urge internet platforms to enhance their responsibility on data security, according to the report.

China will also enhance the authority of regulators, and include all financial activities into financial regulation, it said.

Reporting by Cheng Leng and Kevin Yao; Editing by Catherine Evans and Ed Osmond