News Snapshot:
China’s top securities regulator defended their crackdown on various industries in a private meeting with Wall Street executives, Bloomberg News reported on Saturday (Sep 18). Investors’ concerns over the regulatory crackdown has led to sharp sell-offs on China’s share markets, reducing the market capitalisation of some of its largest companies including Alibaba Group. China Securities Regulatory Commission (CSRC) vice-chairman Fang Xinghai explained during the meeting that recent actions were taken to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security, the report said, citing people familiar with the matter.The three-hour meeting of the China-US Financial...
