China's securities regulator chief said Saturday that it is too early to talk about when China Securities Finance Corporation Limited (CSF) will exit from the market.
Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), made the remarks at a press conference on the sidelines of the annual parliamentary session.
CSF, the national margin trading service provider, played a major role in the government's efforts to rein in market swings last summer. However, Liu said market-stabilizing measures rolled out by authorities during the turmoil will be canceled when the market fully recovers.
Chinese financial regulators implemented a string of policies to prop up the plunging market last year, including injecting liquidity, cutting transaction fees and restricting selling by major share holders. The CSRC will learn from the market crash and improve its supervision to help build a healthy stock market based on the rule of law, Liu added.
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