CSRC denies government funds exit report

China’s securities regulator reiterates Beijing's determination to stabilise equity markets and denies a report that government funds might be withdrawn.

The Chinese securities regulator has reiterated its determination to stabilise the country’s still-volatile equity market, denying a report by financial magazine Caijing that it is studying plans to withdraw funds recently deployed to help improve market liquidity.

In a statement posted online on Monday, Zhang Xiaojun, a spokesman for the China Securities Regulatory Commission, said the next step for the regulator is to “continue stabilising the market, restoring investor confidence, and preventing systemic risks.” 

After Chinese shares tumbled by around 30% in the space of just three weeks in JuneJuly, the government responded with a series of extraordinary rescue measures to help stabilise the...

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