morningwhistle.com / By Chen Xiaoyi / January 22, 2:34 pm
China’s National Securities and Futures Regulatory Working Conference opened today (Jan. 22). At the event China Securities Regulatory Commission (CSRC) president Guo Shuqing emphasized the necessity of administrative intervention.
Because the Chinese security market is immature, guidance is needed. The general direction is to let market mechanisms work, but during this process the CSRC cannot totally liberalize the market. If that were to happen, China would have a totally chaotic market.
Mr. Guo said that in the last year, the stock market was generally stable, fluctuating within relatively small ranges. The main factors supporting this were social insurance funds and qualified foreign institutional investors (QFII). The total investment of social insurance funds and QFII totaled 42.8 billion yuan and 42.7 billion yuan respectively.