China securities regulator warns of severe penalties in market crackdown

China securities regulator warns of severe penalties in market crackdown

FILE PHOTO: A Chinese flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China February 8, 2024. REUTERS/Florence Lo/File Photo

China’s securities regulator said on Friday it would mete out increasingly tough penalties on fraudulent listings, accounting scams and misappropriation of funds by big shareholders, as part of a crackdown to boost confidence in the stock market.

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