China securities watchdog says to enhance surveillance against mis-selling
HONG KONG (Reuters) - China's securities regulator said on Friday it will step up its monitoring of stock markets to protect investors against the mis-selling of investment products, following a turbulent two weeks of panic-selling in China's mainland stock markets.
"We will reinforce market surveillance...to prevent sales violations, and to protect investors," Zhang Yujun, assistant chairman at the China Securities Regulatory Commission (CSRC) said at a regulatory conference in Hong Kong.
Zhang also said the regulator would shortly announce the tax regime for a new mutual fund recognition scheme between Hong Kong and mainland China.
The CSRC has received 11 applications from Hong Kong fund managers for the scheme so far, Zhang said.
(Reporting by Michelle Price; Writing by Lawrence White; Editing by Edwina Gibbs)
