China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy.
Officials at the central bank are preparing to roll out rules to bring risk-management and capital-reserves requirements for these companies in line with those for commercial lenders, according to people familiar with the situation. The rules would apply to firms that have waded into two or more financial sectors, said the people, meaning they would apply to the likes of
Alibaba Group Holding
Ltd.’s
financial affiliate—Ant Financial Services Group—and the…
