Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

China’s securities regulator head says stabilising market is top priority

Stock Markets Aug 01, 2022 01:36AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang

SHANGHAI (Reuters) - China's securities regulator chief said they will make stable capital market operations a top priority amid deepening worries about the economic outlook and fluctuations in stocks.

The world's second-largest economy slowed sharply in the second quarter, due to widespread COVID-19 lockdowns and a slumping property sector.

The benchmark CSI 300 Index dropped for four straight weeks last month, while foreign investors sold 21 billion yuan ($3.1 billion) in Chinese stocks via the stock connect scheme, snapping three consecutive months of inflows.

"It is a rule that the stock market has ups and downs, and the government should not intervene in normal fluctuations," wrote Yi Huiman, chairman of China Securities Regulatory Commission (CSRC) in Qiushi, an official journal of the Chinese Communist Party, published on Monday.

"However, non-intervention is not laissez-faire - we must always adhere to the bottom-line mentality and resolutely prevent 'market failure' from causing abnormal fluctuations."

Yi said capital markets were a "barometer" of a country's economy, reflecting expectations and confidence, which made maintaining their stable and healthy development important.

He added the regulator would strengthen coordination with macroeconomic management departments and industry authorities to maintain consistent policy expectations and resolve property developers' risks.

He also said China has met conditions to fully implement a registration-based IPO system and that the regulator would ensure the smooth implementation of this reform.

The CSRC will accelerate the implementation of rules for offshore listings and support the offshore listing of various types of enterprises, Yi added.

China’s securities regulator head says stabilising market is top priority
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Sylvia Doloff
Sylvia Doloff Aug 01, 2022 5:18AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
can anyone explain why ice cream girl is going on a tour she is the speaker should not the vice president be doing this kamala Harris what are they doing ruining our economy they say no recession jobs are up because everyone over 80 has to go back to work
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email