China Securities Association tells members not to quote UBS economist

The Securities Association of China said on Friday that its members should not quote UBS economist Paul Donovan's research or invite him to events after comments he made about Chinese pigs were perceived by some as a racist slur.

The association said in a statement it urged UBS to strengthen its compliance on its research notes and take effective measures to eliminate any negative impact from Donovan's remarks, which were made in a podcast on Wednesday regarding consumer price increases in China.