China urges funds to better serve investment, financing demand

A CHINESE regulator urged securities firms and asset managers to effectively serve the demand for investment and financing, in order to promote stable and healthy development of the capital market.

The China Securities Regulatory Commission chairman Wu Qing recently held symposiums with representatives of securities firms as well as public and private funds, according to a statement on Sunday (Nov 10). Wu stressed that these companies play a major role in further deepening reforms in the capital market.

China’s equity market has been on a roller-coaster ride since late September when a series of stimulus measures unleashed a burst of optimism that’s now cooling. Investors are waiting for further signs of policy support after Beijing on Friday unveiled a US$1.4 trillion programme to ease local governments’ debt crisis.

The regulator and meeting participants agreed to better coordinate the use of capital market tools such as equity and debt financing, mergers and acquisitions, and restructuring.

Separately, the regulator’s advisory body held a meeting on Friday to discuss topics including ways to promote the country’s capital market and attract foreign investment, according to a separate statement on Sunday. BLOOMBERG