STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSHANGHAI - China's securities regulator approved the launch of 37 retail funds over the weekend, part of government efforts to revive a stock market struggling for lift-off in an ailing economy.
The newly-approved funds, which will guide fresh capital into the market, include 10 exchange-traded funds that track the small-cap CSI 2000 Index and seven tech-focused ETFs, according to the China Securities Regulatory Commission website. The CSRC has vowed to fast-track ETF approvals, and guide asset managers to lower management and trading fees, along with several other market-friendly measures.
China's leaders vowed late last month to boost investor confidence and reinvigorate the stock market - the world's second largest - which has been reeling as the post-pandemic recovery flags and a debt crisis in the property market deepens.