China backs CSRC's A-share reform plan

The government and the communist party put their weight behind the A-share reform plan.

China's most sophisticated and occasionally most reviled regulator, the China Securities Regulatory Commission CSRC, finally got the heavyweight support it needed Wednesday morning after key government ministries issued a joint circular extending the recent stock market reforms to the rest of the market's 1,300 companies.

Apart from the CSRC, the signatories comprised the State-owned Assets Supervision and Administration Commission SASAC, the Ministry of Finance, the Ministry of Commerce and the People's Bank of China.

Observers say this is a crucial sign that the CSRC-sponsored plan has been fully adopted by the top levels of the Party and government.

The...

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