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

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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.