CSRC chief: Government should step in when market function fails

Chairman of China securities regulatory commission, Liu Shiyu, briefed the media in a press conference on Saturday in Beijing. While answering the question on what measures the government should take measures considering the rare fluctuations of China’s stock market last year, Liu replied that the government should step in when market function fails. He cited “immaturity” of Chinese stock market as the main cause of the fluctuations. He also said that CSRC is to accelerate reforms and strengthen regulations so as to facilitate a better development of the market.

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