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In depth: Investors dump China's vape-makers

Beijing regulators look to apply tobacco law

Chinese authorities on Monday published draft amendments to the Tobacco Monopoly Law that would extend its jurisdiction to e-cigarettes.   © Reuters

Investors in China's two largest e-cigarette companies ran for the exits after Beijing signaled the controversial products will be treated more like tobacco cigarettes.

Shares of China's biggest vaping company, RLX Technology, dove almost 48% on Monday. The firm, which raised $1.4 billion with a New York Stock Exchange listing two months ago, does most of its business on the Chinese mainland.

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