China defends sweeping tech crackdown in meeting with Wall Street chiefs

China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules are not aimed at stifling technology companies or the private sector.China Securities Regulatory Commission (CSRC) vice-chairman Fang Xinghai said recent actions were to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security, according to a person familiar with the…