China's Stock Regulator Said to Defend Post-Rout Intervention
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The head of China’s securities regulator defended its intervention in the aftermath of this summer’s stock market collapse, saying it prevented a wider systemic crisis.
China’s leaders showed foresight earlier this year when they began planning how to react to a sharp market plunge after realizing gains were irrational, Xiao Gang, chairman of the China Securities Regulatory Commission, told Communist Party elites in October, according to a person with knowledge of the matter.