FINSERV
“ In China , things move at China ' s speed . That ' s true on the business side , and it ' s also true on the regulatory side ”
DAVID MESSENGER CEO , LIANLIAN GLOBAL
Operational challenges While many smaller companies have swiftly adapted to the new fintech regulations , the larger entities have felt the strain . Messenger says monopoly players face the biggest challenges .
“ If you are one of the monopoly players in China , there ' s pressure to take very significant steps , make significant changes and do so relatively quickly . If you are not in that category of data security and data privacy , the implementation is going to be phased . And so everyone is studying those changes and needs to really understand and engage
60 January 2022