The FAA has been criticized for lax oversight in its approval of Boeing's top-selling plane.

Sandy Parakilas, who worked in data protection for Facebook in 2011 and 2012, told a U. K. parliamentary committee Wednesday that the company was vigilant about its network security but lax when it came to protecting users' data.

LOS ANGELES - Chinese electric automaker BYD will supply Los Angeles International Airport (LAX) with 20 all-electric buses for airfield passenger transportation, which make up the largest airport fleet of its kind in the United States.

LAX's bus operations transported over 2.4 million passengers on more than 53,000 trips in 2017.

The acquisition of the fleet was approved at a recent meeting of the Los Angeles Board of Airport Commissioners, as a move for LAX to comply with LA's "Sustainable City pLAn," an initiative by Mayor Eric Garcetti to reduce the city's greenhouse gas emissions to 45 percent below the 1990 baseline levels by 2025.

"We are proud to provide LAX with 20 California-made electric transit buses, which will provide cleaner air and help create healthier communities," said Macy Neshati, Senior Vice President of BYD Heavy Industries.

"With the introduction of these new electric buses, LAX will have the largest fleet of electric airfield buses at an airport in the United States, transporting us to a cleaner and quieter future for buses," said Michael Christensen, LAWA's Deputy Executive Director for Facilities Maintenance and Utilities Group, in the statement.

On the other hand, a lax or lagging regulatory regime will likely encourage risky activities that could wreak havoc on the financial system.

The statement came as China attempts to ensure stable economic growth and liquidity while avoiding the risks accumulated over years of credit binges and lax regulation.

This echoes the view of Chen Li, research head of Chuancai Securities, who said the fact that 15 companies were dismissed by the CSRC among the total 95 applicants in the past two months since June, equal to a veto rate of 15.79 percent, indicates a tightened rather than lax regulation.

The stockpile of debt from previous governmental over-stimulus alongside poor corporate management and lax financial supervision will take time to digest.