China unveils measures to revive stock market

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SHANGHAI: China's securities regulator unveiled a package of measures on Friday (Aug 19) aimed at reviving a sinking stock market, but investors said they would do little to boost confidence if the economy remains sluggish. The China Securities Regulatory Commission (CSRC) proposed steps including cutting

SHANGHAI: China's securities regulator unveiled a package of measures on Friday aimed at reviving a sinking stock market, but investors said they would do little to boost confidence if the economy remains sluggish.

Other measures laid out by the CSRC include boosting the development of equity funds, studying plans to extend trading hours, and improving the attractiveness of listed companies. Some investors said they were disappointed with the plans. Niu Chunbao, a fund manager at Wanji Asset Management, said the policies would not be enough to offset broader concern about the Chinese economy.

"But they won't change the market fundamentals. A bull market requires genuine policies that would boost credit expansion."The CSRC said it would boost the development of equity funds by speeding up the registration of index funds and broadening funds' access to derivatives, and encourage fund managers to make countercyclical investments.

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