China’s Securities Regulator Promises Strict Crackdown on Financial Fraud

China’s top securities watchdog denied market speculation that the regulator will retrospectively review initial public offerings (IPOs) made over the past 10 years but said a strict check will be kept on IPO companies to catch any violations.

Financial audits remain a top priority in the daily supervision of listed companies, Yan Bojin, chief risk officer of the China Securities Regulatory Commission (CSRC) and head of the department of public offering supervision, said at a Friday press conference.