While CATL's board has approved the plan, the proposal still requires approval from regulators in Beijing

Beijing imposed a record $2.75 billion fine on the tech outfit in 2021 and has been ‘guiding’ the company’s efforts to fall into line

More than 30 listed Chinese firms have dropped PwC as their auditor in recent months amid a probe by Beijing into its practices

PricewaterhouseCoopers, one of the Big Four auditors, had been Evergrande’s auditor since 2009, when the developer listed in Hong Kong

China's Securities Regulatory Commission says it will bolster its supervision of company listings, delistings and computer-driven programme trading

Chinese policymakers have doubled down on Xi Jinping's new mantra of unleashing "new productive forces” and stepped up investment in cutting-edge technology

Beijing has been tightening control of data generated within the country's borders sparking alarm among foreign firms operating in China

Foreign executives admit they are worried about the secrecy provisions of the new law which comes into effect on Saturday

Beijing will vet IPOs more closely, 'severely punish' securities fraud, and also increase supervision of listed companies to ensure they give better dividends and don't 'worship money'

"A-share IPOs will enter an era where quality is more important than quantity," one Chinese brokerage said on increasing regulatory scrutiny

Along with Ma, Alibaba chairman Joe Tsai also purchased about $151 million worth of Alibaba's US-traded shares

The warning follows scepticism about the reliability of Chinese data, especially as Beijing seeks to defuse market concerns about a slowing economy