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China regulator denies rumours about probes on Xiaomi-invested firms -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Xiaomi logo can be seen alongside a smartphone from the same manufacturer in this illustration, taken on September 28th 2021. REUTERS/Dado Ruvic

SHANGHAI/BEIJING – China’s Securities Watchdog has denied market rumours Tuesday that Chinese regulators have launched investigations into companies involved in Xiaomi (OTC) Corp’s Industrial Chain or restrained such firms from listing plans.

China Securities Regulatory Commision(CSRC) responded to claims on social media that regulators had increased scrutiny of Xiaomi-invested firms, with some seeking listing.

CSRC stated that it will continue to review initial public offerings (IPO) plans in accordance with relevant regulations. It said that it would be fair to all applicants and maintain stable policy expectations.

“We hope that market participants won’t spread rumours or believe them, and we work together to protect a sound market climate,” CSRC stated in a statement.

Xiaomi, the Chinese smartphone manufacturer, stated in a Tuesday statement that it has launched a lawsuit to address “fabricated and baseless” rumours online regarding its investment and industrial chain.

Xiaomi stated to Reuters that they have no other comment.

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