China’s securities regulator plans to raise the minimum proportion equity funds should have in shares, a move that may drive investments into the worst- performing major Asian stock market in the past year.
People’s Bank of China Governor Zhou Xiaochuan said the central bank drained cash from the financial system after last month’s Lunar New Year holiday to remove funds injected before the festival, the Securities Times reported.
China’s Finance Ministry and securities regulator last year submitted recommendations to the State Council on how to work with the U.S. on cross-border auditing supervision, the Securities Times reported today.
China’s stocks fell for a fourth day, the longest stretch of losses in three months, on speculation regulators may resume initial public offerings. Drugmakers, financial stocks and small-company shares dropped.
China’s second-quarter economic growth may be 10.6 percent, the Securities Times reported, citing Pei Changhong, director of the institute of finance and trade economics at the China Academy of Social Sciences.