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Chinese exchanges suspend Nanjing Securities' stock-pledged repo business

The Shanghai and Shenzhen stock exchanges suspended Nanjing Securities Co. Ltd. from making stock-pledged repurchasing transactions for three months.

This came after the company was deemed to have carried out inadequate due dilligence and fund management on such activities, according to a Dec. 3 release.

The suspension will run between Nov. 30 and Feb. 29, 2020.