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China regulator meets global fund firms to boost confidence


China's Securities Regulatory Commission Vice-Chairman, Fang Xinghai, has met global venture capital and private equity firms to address their concerns about investing in China. Representatives from GIC, Warburg Pincus, and HongShan, formerly Sequoia Capital China, were among those present. The meeting is part of the government's efforts to bolster market confidence as the country's economic recovery slows. This follows President Xi Jinping's recent strong support for the country's private tech enterprises. Meanwhile, Ark Innovation ETF's Cathie Wood announced the fund has removed all exposure to China amid an economic downturn, after previously holding stakes in Tencent and Ke Holdings. In related news, Hengtou Securities has been ordered by the CSRC to submit a rectification report due to inadequate control and compliance management.

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