China soothes Wall Street’s concerns amid regulatory crackdowns

China’s ‘common prosperity’ wealth-sharing drive to ease inequality has rattled some foreign investors

20 September 2021 - 19:42 By Norihiko Shirouzu and Scott Murdoch

China’s sweeping regulatory crackdown of recent months does not aim to rein in the country’s private enterprises or decouple from the US or international financial markets, a top Chinese regulatory official has told Wall Street leaders.

The actions instead intend to strengthen the regulation of consumer-facing platform companies with a key role in promoting “common prosperity” or easing wealth inequality, China Securities Regulatory Commission (CSRC) vice-chair Fang Xinghai said at a private gathering, according to attendees...

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