Asia

Regulator: China needs to rein in risky stock behavior

Associated Press
Published | Updated

China Securities Regulatory Commission Chairman Liu Shiyu is shown on the monitor screen of a television camera during a press briefing on the reform, stability and development of the Chinese capital market, at the State Council Information Office in Beijing, Sunday, Feb. 26, 2017. (AP Photo/Andy Wong) (The Associated Press)

China Securities Regulatory Commission Chairman Liu Shiyu drinks tea during a press briefing on the reform, stability and development of the Chinese capital market, at the State Council Information Office in Beijing, Sunday, Feb. 26, 2017. (AP Photo/Andy Wong) (The Associated Press)

China Securities Regulatory Commission Chairman Liu Shiyu speaks during a press briefing on the reform, stability and development of the Chinese capital market, at the State Council Information Office in Beijing, Sunday, Feb. 26, 2017. (AP Photo/Andy Wong) (The Associated Press)

A Chinese regulator says Beijing needs to rein in risky behavior by financial industries following market turmoil in 2015 that battered investors.

Sunday's comments by the deputy chairman of the country's stock market agency follow complaints insurance companies and others are making risky speculative investments.

The official, Li Chao, said at a news conference regulators need to "increase the intensity of supervision" to prevent reckless behavior.

On Friday, the chairman of a Chinese life insurance company was banned from the industry for improperly raising money and making high-risk investments.