Regulatory round-up: China crackdown
Brokers prop up China stocks; Safe authorises new players for interbond market; and more.
China: Brokers to prop up market with Rmb30 billion
Haitong Guotai Junan Securities, Changjiang Securities and Pacific Securities are amongst nine Chinese brokers which have pledged Rmb30 billion to support the volatile Chinese market.
The revelation, which was reported on China Securities Journal last Wednesday, will see such groups increase their equity investment funds from 15% to 20% of their net assets.
It comes soon after news that Chinese authorities are investigating s…
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