China Vows Financial Stability With Markets Bracing for Selloff
- CBIRC extends asset management rules deadline for some firms
- CSRC to temporarily halt night sessions of futures trading
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Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese regulators unveiled a slew of measures to ensure stability of its $45 trillion financial system as the nation stepped up the fight against the spreading virus.
The People’s Bank of China announced Sunday it would supply 1.2 trillion yuan ($174 billion) to money markets on Monday. The securities regulator that it would halt night sessions for futures trading from Monday until further notice, and allow some share pledge contracts to be extended by as long as six months as part of measures to improve market expectations and prevent irrational behavior.