China unveils measures to invigorate capital market
China's securities watchdog on Friday specified an array of initiatives to inject vitality into the capital market and boost investor confidence.
The China Securities Regulatory Commission (CSRC) said it would take measures to boost investor confidence, including axing stock transaction fees, lowering the index fund registration thresholds, and advancing the development of equity funds.
In improving the attractiveness of listed companies, the CSRC said it would offer green channels for sci-tech companies that boast key core technologies in listing and financing, bond issuings, and mergers and acquisitions. It also pledged support to share buybacks.
The commission said it was considering extending the trading hours for A-share and bond markets to satisfy the demand for trade and investment.
The CSRC also vowed efforts to expand the range of stocks eligible under the Stock Connect program between the Chinese mainland and Hong Kong markets.
These measures came as the Chinese authorities held a crucial meeting in late July, pledging efforts to invigorate the capital market and boost investor confidence.