China Regulator Says Steps to Stabilize Stock Market Temporary
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China’s measures to stabilize stocks amid a $3.5 trillion rout are temporary, a spokesman for the market regulator said.
Steps taken by the government, such as a suspension of initial public offerings and a ban on share sales by major shareholders, won’t affect the nation’s market-oriented reforms, China Securities Regulatory Commission spokesman Zhang Xiaojun said at a weekly briefing on Friday. While necessary, the government action was temporary, Zhang said.