gata.org / By Weiyi Lim Bloomberg News / Tuesday, January 22, 2013
China’s securities regulator said intervention in the nation’s stock market is necessary at “key moments” because it isn’t mature, the official Xinhua News Agency reported.
“Volatility is high, and don’t forget, China is still a developing country,” Xinhua quoted China Securities Regulatory Commission Chairman Guo Shuqing as saying at a national securities and futures supervision meeting.
Net share purchases by China’s social security fund were 42.8 billion yuan ($6.9 billion) last year and totaled 42.7 billion yuan by qualified foreign institutional investors, Xinhua cited Guo as saying. They were the biggest net purchasers, Xinhua reported.
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