8 years, 1 month ago

China’s markets regulator CSRC to focus on stability, reforms

Beijing: China will focus on stable development of its capital markets this year, but will press ahead to further open its markets to foreign companies, the top securities regulator said on Sunday. 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. Limiting or halting initial share sales in order to stabilise the secondary market doesn’t “solve the problems of long-term healthy development of capital markets,” Liu said. CSRC deputy chief Fang Xinghai said at the same news conference that China is discussing measures that would allow foreign firms to take a larger stake in domestic joint venture securities and futures brokerages, without providing a timetable for any changes.

Live Mint

Discover Related