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Regulatory Fears Ensnare More Stocks in Xi Jinping’s New China

  • Liquor makers, cosmetics firms and online pharmacies hurt
  • State media call for stricter regulation to protect consumers
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China’s rolling regulatory crackdown on unfair markets found more targets Friday among liquor makers, cosmetics firms and online pharmacies.

A slew of commentaries and reports in state media called for tougher oversight to protect consumers as President Xi Jinping’s campaign to address inequality broadens. That’s piled more misery on investors with global institutions dumping $1 billion worth of mainland shares via trading links on Friday while U.S.-traded Chinese stocks endure weeks of pain.