China Is Taking Steps to Calm Market Volatility, Regulator Says
Tang Shihua
DATE:  Oct 31 2018
/ SOURCE:  Yicai
China Is Taking Steps to Calm Market Volatility, Regulator Says China Is Taking Steps to Calm Market Volatility, Regulator Says

(Yicai Global) Oct. 31 -- China is carrying out policies to stabilize the country's capital markets, according to its top banking and insurance watchdog.

The committee under the State Council, or cabinet, charged with overseeing financial stability and development has conducted special studies and made arrangements to implement relevant policies, Wang Zhaoxing, the vice chairman of the China Banking and Insurance Regulatory Commission, said at a regular press briefing yesterday after the cabinet met.

The Communist Party of China, the State Council and financial regulators attach great importance to maintaining financial market stability and promoting healthy growth in the capital markets, Wang said. The government has adopted a slew of measures under the Financial Stability and Development Committee's leadership, he added.

The authorities have no reason to doubt their confidence in the country's capital markets, the official added. He said volatility is mainly due to both the Chinese and global economies undergoing a period of restructuring that is accompanied by severe market fluctuations.

Sound financial markets not only have a positive influence on the economy, they are also important to ongoing supply-side and structural reforms, deleveraging and constantly strengthen China's healthy economic development, Wang said.

Liu He, the vice premier of the State Council, Yi Gang, the governor of the People's Bank of China, Guo Shuqing, the chairman of CBIRC, and Liu Shiyu, head of the China Securities Regulatory Commission, have on several previous occasions expressed confidence in stabilizing the markets.

Editor: Emmi Laine

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Keywords:   Financial Regulator,Market Stability,Investor Confidence, Government Policy,CBIRC