A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange in New York City, the US. Picture: BRENDAN MCDERMID/REUTERS
“The main purpose of [those moves] is to regulate monopoly, to protect the interests and data security of small and medium-sized firms, as well as personal information security,” the China Securities Regulatory Commission said in a statement. The securities regulatory commission said it had taken note of new rules rolled out by the US Securities and Exchange Commission asking Chinese companies to detail their ownership structure and audits.
The CSRC policies are not meant to crack down on specific industry or private firms and “have no necessary connections with companies’ overseas listings”, the commission said.