News Snapshot:
In a meeting with Wall Street bosses, Chinese regulators insisted on the need for government action against companies from a variety of technology industries. Beijing officials have tried to convince opponents that stricter rules are not intended to harm tech companies and the private sector in general. Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said Beijing’s recent moves were aimed at introducing stricter rules for companies that own end-user-oriented platforms and improving the confidentiality of data, as well as to protect national security. Mr. Fan defended the measures against the players in the education and gaming industry...