语言切换
CN
EN
News

Reforms seen as catalyst for 'new bull run

Date: 2020-07-14
Views: 8



China's A-share market may have started what some are calling a 'new bull run' that is more sustainable and rational than before, backed by deepened market-oriented reforms, experts said on Monday.

The benchmark Shanghai Composite Index rallied by 1.77 percent to close at 3443.29 points on Monday, giving the index a rise of more than 15 percent since the beginning of the month.

 

The ChiNext index, which tracks the innovative, startup-heavy board in Shenzhen, rose for the eighth consecutive session by 3.99 percent to close at 2889.43 points, the highest level in more than four years and a half.

 

Also on Monday, the ChiNext's listing committee held its first meeting to review initial public offering applications on the board, the latest landmark in its market-oriented reform that aims to abolish regulatory IPO approvals and give the market a greater say.

Other measures to empower market forces are also on the way. A meeting of the country's top body guiding financial regulation has urged comprehensive efforts to intensify the crackdown on capital market violations and reiterated the nation's 'zero tolerance' for such activities.

 

According to a statement published after a meeting of the State Council's financial stability and development committee on Saturday, the country has substantially raised the cost of capital market violations via legislation, while regulators must strengthen the enforcement of laws to ensure a healthy market environment.

 

Cheng Shi, chief economist at Hong Kong-based corporate financing platform ICBC International, said the statement reflected the policy stance of enhancing compliance with market rules to improve information transparency, boosting the market's role in resource allocation.


Copyright ©2005 - 2013 ICCC
犀牛云提供企业云服务
Beijing Shanghai Guangzhou Chongqing Fuzhou Chengdu Nanjing Hangzhou Ningbo Haikou Suzhou Shenzhen Hongkong Frankfurt Toronto Melbourne Taiwan
400-857-5885

邮编:330520