China’s entrenched favouritism challenges CSRC reforms

China's securities regulator wants to let ordinary investors share in the country's success, but that means diverting profits away from powerful individuals. Politics may stand in the way of such reforms.

China’s entrenched favouritism challenges CSRC reforms

China’s well-intended reforms are often compromised by political wrangling and broader economic goals, so when the securities regulator announced new policies to strengthen the languishing equities market there are reasons to be wary.

The ultimate goal of the new rules is to let the vast majority of investors share the success of fast-growing enterprises and the country’s booming economy as a whole. Sadly, that is likely to be challenged by China’s deep-rooted structural problems, which...

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