Um, OK, thanks guys

(yours, yours, yours …)

More, via Reuters comments from the China banking and insurance regulator chief:

  • asks financial institutions to properly manage risks on stock pledge financing business
  • to encourage insurance sector to invest in listed companies
  • will allow insurers to set up products to help resolve liquidity issues related to stock pledging by listed firms
  • systemic risks are currently under control

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This is a call for insurers to buy stocks,

There will be two reasons:

  1. they are dropping hard
  2. and, the latest concern is about stock pledging issues, directly addressed in these comments

More:

China securities regulator chief:

  • to support SMEs' issuance of high-yield bonds and other debt products
  • to encourage funds managed by local governments to help resolve liquditiy difficulties caused by stock pledging
  • to encourage private equity funds to buy listed firms' shares, participate in M&A of listed firms
  • to support foreign asset management firms in conducting business in China