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China securities regulator says sharp equities pullback unhealthy

[SHANGHAI] The recent sharp pullback in equities is unhealthy for stable market development, a spokesperson for China's securities regulator said on its official blog.

Risks from brokerages' margin financing business are also controllable, the China Securities Regulatory Commission (CSRC) spokesperson said in the blog posting on Monday evening.

China's equity markets have fallen sharply over the past week and the benchmark CSI 300 index is now down 14 per cent since June 24.