China's stock market reforms deepen

Government sends a clear signal to critics with plan to broaden reform to 42 more companies.

The China Securities Regulatory Commission's CSRC recent decision that 42 companies will be added to the original four companies selected for share holding reforms has sent a powerful message to its critics. The mainland media has pointed out that the inclusion of Bao Steel and Changjiang Three Gorges Electric Power Corporation -two major domestic blue chips - is especially significant.

The companies are under the direct supervision of the central government unlike the previous four companies, which have a high number of private and provincial government shareholders.

As one fund manager comments, Now reforms are moving from the rather small sized companies in the first batch to...

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