Anti-monopoly measures applied to China's e-commerce giant Alibaba-backed financial affiliate Ant Group will also be imposed on other payment service companies, said a senior official from China's central bank on Thursday. 

Fan Yifei, vice governor the People's Bank of China (PBOC), told a media conference in Beijing that monopolistic behavior does not only exist in the Ant but also in other institutions.

China suspended the planned mega listing of Ant last November amid growing concerns over banks using third-party technology platforms like Ant for underwriting loans, which could spike financial risk. 

In April, Chinese financial regulators, led by the PBOC, imposed a restructuring order on Ant, requiring it to rectify relevant businesses and set up a consumer finance firm.

Read more: China's Ant Group gets approval to set up consumer finance company

Fan said the speed of development of China's payment industry had been rapid over the past few years but at the same time, there were "monopoly and excessive capital expansions during [its] development."

He said measures would be revealed soon.

(Cover via CFP)