On 31 July, the China Securities Regulatory Commission (CSRC) announced administrative penalty to domestic business entities, related parties, and interested third parties of Luckin Coffee after its investigation together with the Ministry of Finance and the State Administration for Market Regulation, over Luckin’s suspected violations of laws and regulations. At the same time, in line with the arrangements of the International Organization of Securities Regulatory Commission (IOSCO) cross-border supervision cooperation mechanism, the CSRC cooperated with the US securities regulatory authorities to carry out cross-border investigations.

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