Monart
This step is expected to strengthen market confidence amid a slowdown in economic growth.
The Commission for the Regulation of Banking and Insurance Activities of the PRC for the first time announced its intention to take such measures in October.
According to official data, the volume of asset management products sold by banks amounted to 29.54 trillion yuan ($ 4.26 trillion) at the end of 2017.
Chinese stocks fell by about 22% this year amid slowing economic growth and trade conflict with the United States.
Chinese regulators stepped up efforts in October to ease concerns about a sell-off in the country's stock market.
The chairman of the People's Bank of China, said that the decline in stock indices was due to the mood of market participants, not fundamental factors. He said that the People’s Bank of China plans to take measures that will provide financial support for Chinese companies and support the growth of lending in the economy.
Meanwhile, the chairman of the China Securities Regulatory Commission (CSRC) announced a series of incentives. According to him, the commission will promote reforms that, in particular, will facilitate mergers and acquisitions and provide easier access to foreign investment.
Chairman of the Banking and Insurance Regulatory Commission of the People's Republic of China said that insurance companies would be allowed to offer products designed to alleviate liquidity problems for companies that attracted borrowed funds against their own shares.
source: reuters.com
The Commission for the Regulation of Banking and Insurance Activities of the PRC for the first time announced its intention to take such measures in October.
According to official data, the volume of asset management products sold by banks amounted to 29.54 trillion yuan ($ 4.26 trillion) at the end of 2017.
Chinese stocks fell by about 22% this year amid slowing economic growth and trade conflict with the United States.
Chinese regulators stepped up efforts in October to ease concerns about a sell-off in the country's stock market.
The chairman of the People's Bank of China, said that the decline in stock indices was due to the mood of market participants, not fundamental factors. He said that the People’s Bank of China plans to take measures that will provide financial support for Chinese companies and support the growth of lending in the economy.
Meanwhile, the chairman of the China Securities Regulatory Commission (CSRC) announced a series of incentives. According to him, the commission will promote reforms that, in particular, will facilitate mergers and acquisitions and provide easier access to foreign investment.
Chairman of the Banking and Insurance Regulatory Commission of the People's Republic of China said that insurance companies would be allowed to offer products designed to alleviate liquidity problems for companies that attracted borrowed funds against their own shares.
source: reuters.com