China to stabilize stock market for ‘number of years'

by French Press Agency - AFP

SHANGHAI Finance

Aug 15, 2015 12:00 am GMT+3

by French Press Agency - AFP

Aug 15, 2015 12:00 am

China's market regulator on Friday vowed to stabilise the volatile stock market for a "number of years", saying a state-backed company tasked with buying shares will have an enduring role. "For a number of years to come, the China Securities Finance Corp. will not exit [the market]. Its function to stabilise the market will not change," the China Securities Regulatory Commission (CSRC) said in a statement on its official microblog. The China Securities Finance Corp. has played a crucial role in Beijing's stock market rescue, which was launched after Shanghai's benchmark crashed 30 percent in three weeks from mid-June.

Last Update: Aug 15, 2015 2:07 am

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