The Presidential Daily Brief


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    China to Regulate Investment in Tech, Gaming

    Keep your head out of the cloud. That’s the message from the China Securities Regulatory Commission, which is attempting to keep capital from shifting out of traditional manufacturing industries — hard-hit by the country’s recent economic sluggishness — and into technology, Internet, gaming and media. The regulators plan to tighten merger rules and prevent companies from selling new shares in order to invest in such newfangled industries. Some say the commission is overstepping — but others worry that without intervention, China will fall victim to a tech bubble.

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