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CSRC chief meets with red chips

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The director of the China Securities Regulatory Commission's international operations department, Li Xiaoxue, has met senior managers at several top red chips in Hong Kong during his stay in the SAR, sources said.

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Mr Li was leading a commission working team ahead of a quarterly working meeting with Hong Kong securities regulators, sources said.

The team arrived in Hong Kong last week and also met senior management at the stock exchange and Securities and Futures Commission.

It is understood Mr Li met the management of Shanghai Industrial Holdings on Sunday and China Merchants Holdings International yesterday.

Mr Li will meet representatives from more red-chip companies over the next two days before returning to Beijing.

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'It is nothing special. It is normal for him because he is in charge of the mainland security watchdog's international business,' one of the sources said. 'It is normal to meet red chips to exchange information.' Mr Li had also met foreign investment bankers, the source said.

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