China to step up supervision of overseas-listed companies

China will step up supervision of Chinese firms listed offshore, its cabinet said on Tuesday, days after Beijing launched a cybersecurity investigation into ride-hailing giant Didi Global Inc on the heels of its U.S. stock market listing.
Under the new measures, China will improve regulation of cross-border data flows and security, a crackdown on illegal activity in the securities market, and punish fraudulent securities issuance, market manipulation, and insider trading, a statement by China's cabinet said. China will also check sources of funding for securities investment and control leverage ratios, it said.