Morgan Stanley and UBS Group are set to raise their stakes in their separate Chinese securities joint ventures to 49 percent, people with direct knowledge of the moves confirmed last month.
China`s crackdown on illegal market activities has intensified since the mid-2015 stock market crash that wiped out almost $3 trillion of share value.
The CSRC recently pledged to target "barbaric" leveraged buyouts and to restrict excessive fundraising by some listed companies, with a focus on private share placements.
Chinese regulators have turned their sights on controlling risks in financial markets as speculative activity and leverage in the economy rise, with the securities regulator vowing to clear out "abnormal phenomena" from capital markets.
Liu, who was appointed CSRC chairman in early 2016, said that balancing the needs for stability and progress were crucial, especially in managing the primary market.
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