综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Markets

Equities regain ground on govt reassurances

By Cai Xiao (China Daily) Updated: 2016-01-23 08:08

Regulations will be used to curb volatility, says top official

Share prices rose on Friday after the government signaled it will curb overcapacity in industries that have been dragging down economic growth.

The benchmark Shanghai Composite Index gained 1.25 percent to close at 2,916.56 points while the Shenzhen Component Index jumped by 1.36 percent.

The Economic Information Daily reported on Friday that the government will provide 100 billion yuan ($15 billion) a year to help reduce capacity in the coal and steel sectors.

Market sentiment also improved after Vice-President Li Yuanchao sought to reassure investors that the government would use regulations to curb volatility in a market that was "not yet mature".

"An excessively fluctuating market is a market of speculation where only a few will gain the most benefit, when most people suffer," Li, who is attending the World Economic Forum in Davos, Switzerland, said in an interview with Bloomberg.

China Securities Regulatory Commission Vice-Chairman Fang Xinghai told CNN at Davos that market volatility will be part of the "new normal" as China continues to transition from an economy based on investment and exports to one driven by consumption.

He estimated that the current economic transition would go on for another three to five years.

Fang said Chinese markets are more volatile than developed markets because they are dominated by individual investors who lack the experience of large institutional investors.

China introduced a circuit breaker mechanism at the start of this year to protect small investors from big market swings. But instead of offering protection, it constrained liquidity further.

Fang said that having a circuit breaker was "not an appropriate policy for China", and that the market regulator would intervene to allow markets to fluctuate more naturally.

"Li's comments show that China is determined to strengthen laws and regulations to check illegal activities and market manipulation," said Deng Haiqing, chief economist at JZ Securities Co.

Liu Jipeng, director of the Capital Research Center at the China University of Political Science and Law, said that regulators used to focus more on the scrutiny and approval of initial public offerings.

But now they need to have strengthen regulations for companies after they list or delist.

"The regulators also need to improve the systematic design of the A-share market, such as limiting share sales by major shareholders and ways to activate large-capitalization stocks such as China's four large State-owned banks," said Liu.

The China Securities Regulatory Commission said on Friday that the Securities Association of China will introduce self-regulatory guidelines for sponsor institutions after a review of advance compensation for sponsor institutions was carried out in November.

Bloomberg and CNN contributed to this story.

Hot Topics

Editor's Picks
...
辉县市| 武穴市| 永善县| 福安市| 伽师县| 延安市| 江川县| 洪雅县| 格尔木市| 廊坊市| 共和县| 平武县| 葫芦岛市| 嘉黎县| 壶关县| 沛县| 鹰潭市| 巴东县| 密云县| 日照市| 沾益县| 都匀市| 南郑县| 阿瓦提县| 星子县| 磐安县| 四子王旗| 康保县| 芦山县| 邹平县| 巴彦县| 阿鲁科尔沁旗| 辉南县| 涪陵区| 临清市| 蓝田县| 平山县| 双辽市| 扶余县| 兴隆县| 时尚|