The People’s Bank of China (PBOC), the country’s central bank, has never been a major driver of domestic antitrust measures; its tasks involve carrying out monetary policy and regulating financial institutions. It has had no public record of being involved in any antitrust lawsuit or investigation since the country’s antitrust law came into effect in August 2008. The PBOC, however, is now flexing its regulatory muscle, putting “nonbank payment institutions” on notice that it could wield…

This post was originally published on South China Morning Post.