July 31, 2020 / 8:48 AM / 13 days ago

China securities regulator to set up clear framework to regulate overseas-listed firms

SHANGHAI (Reuters) - China’s securities regulator said on Friday it would set up a clear and complete regulatory framework to supervise overseas-listed Chinese companies, and strengthen cross-border cooperation.

The China Securities Regulatory Commission (CSRC) will amend and consolidate overseas listing rules, and will crack down on cross-border illegal activities, CSRC said in a statement on its website.

In the domestic market, the CSRC will adopt “zero tolerance” toward malpractice such as accounting fraud, insider trading and market manipulation, the regulator said.

The CSRC issued the statement after holding an internal meeting on Thursday.

Reporting by Samuel Shen and Andrew Galbraith; Editing by Alison Williams

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