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:
- they are dropping hard
- 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