Recently, Douyin Pay received regulatory approval for two key job changes. According to the Hubei branch of the People's Bank of China, Douyin Payment Technology Co., Ltd. was approved to change Zhang Mengdi to the head of compliance risk control and Zhang Wei to the technical director. “Judging from the dual dimensions of the regulatory framework and institutional operation, it is inevitable that the two core executives of compliance, risk control and technology will complete the regulatory approval changes.” Wang Pengbo, chief analyst at Broadcom Consulting, said in an interview that the current payment regulations classify the two types of positions as statutory senior managers, and personnel changes must complete the prior approval process. This is a hard bottom line requirement for institutions to implement corporate governance compliance.

Recently, Douyin Pay received regulatory approval for two key job changes. According to the Hubei branch of the People's Bank of China, Douyin Payment Technology Co., Ltd. was approved to change Zhang Mengdi to the head of compliance risk control and Zhang Wei to the technical director. “Judging from the dual dimensions of the regulatory framework and institutional operation, it is inevitable that the two core executives of compliance, risk control and technology will complete the regulatory approval changes.” Wang Pengbo, chief analyst at Broadcom Consulting, said in an interview that the current payment regulations classify the two types of positions as statutory senior managers, and personnel changes must complete the prior approval process. This is a hard bottom line requirement for institutions to implement corporate governance compliance.