SHANGHAI - China's financial regulators approach bond market oversight based on market principles and from macro-prudential and compliance perspectives, state media on Saturday, rejecting claims of market intervention.
Early this month a financial market association under the People's Bank of China, the central bank, said it would investigate four rural commercial banks over suspected manipulation in the treasuries market. "As long as institutions trade in accordance with market principles and rule of law, the regulators will not directly intervene," the newspaper cited an industry source as saying.
The newspaper warned of the risk of a"stampede" in the bond market due to unilateral consensus behaviour.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.