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Liu Shiyu, chairman of China Securities Regulatory Commission (CSRC), has called for extra investor protection.
According to Xinhua, he made the appeal at a symposium held with securities and fund firms in Shenzhen on Saturday.
“Institutions should put more emphasis on the protection of investors’ legitimate rights and contribute to the healthy development of the capital market,” said Liu.
In March this year a spokesman for the regulator denied media reports that alleged the watchdog was planning to delist 30-40 companies. He also noted that the regulator would continue to pursue its tough stance regarding market irregularities, such as illicit financing in stock trading.
The regulator has been rigid towards illegal leveraged trading since the market turmoil in the summer of last year, as this activity is considered the main caused for the unstable market and the following crash.
To prevent the steep fluctuations in the stock market, China introduced a circuit breaker mechanism early this year, but suspended it about a week after launch, as it “it failed to achieve the anticipated effects”. Liu Shiyu, Chairman of the CSRC, said last month China will not relaunch the circuit breaker mechanism in its stock market in the next several years.
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