China implements open banking strategy to regulate big tech firms, offering a model for global regulators.

China demonstrates its approach to regulating big tech companies amidst rapid expansion and growing influence, providing a concrete example for other countries dealing with similar concerns. This issue presents a challenge for regulators worldwide in managing the power of major tech firms. China's strategy, including open banking, promotes transparency, competition, and innovation, while addressing the risks associated with big tech companies' dominance.

August 12, 2024
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