Chinese credit and loan service company Huabei will send its customer data to a database run by China’s central bank. The move signals more regulatory oversight of the financial technology industry. Huabei, which means “just spend it” in Chinese, stated in a notification released on Sept. 22 that consumer credit data has been integrated into the financial credit information database run by the People’s Bank of China (PBOC). Owned by digital payment service giant Ant Group, Huabei will hand over information such as users’ credit limits, amount of credit used, and payment records every month. User’s personal consumption details will remain private, including the time of purchase and the items bought, Huabei added in the notification posted on Twitter-like Weibo. The data-sharing arrangement is mandatory under China’s regulation. Huabei will ask its users to authorize the sharing of credit data to the central bank’s system. Those who opt-out will not …