ByteDance to downsize fintech business, sell stock broker ops

September 02, 2021 11:33 AM

BEIJING (REUTERS) – TikTok parent ByteDance said on Wednesday (Sept 1) that it would shrink its financial services unit and that it planned to sell its stock broking operations amid China’s tightening grip on the financial technology (fintech) sector.

Source : http://www.straitstimes.com/business/banking/bytedance-to-downsize-fintech-business-sell-stock-broker-ops