CSRC acts to ensure transparency in policies to quash rumours

PUBLISHED : Wednesday, 30 April, 2008, 12:00am
UPDATED : Wednesday, 30 April, 2008, 12:00am

The China Securities Regulatory Commission has pledged to ensure transparency in state policies as it attempts to stop rumours destabilising the stock and futures markets.

The regulator published provisional rules governing regulation disclosure last night, promising to issue timely official statements to clarify widespread speculation. The rules take effect tomorrow.

'The CSRC and its branches will fully abide by the rules to boost a healthy growth in the market,' it said.

Last month, the mainland was rife with rumours that Beijing would soon cut stamp duty to bolster the sagging stock market. But the authorities did not make any move for about a month, causing many investors to lose money.

According to the provisional rules, the CSRC will 'voluntarily' provide to a list of certified institutions important information about policy-making and development plans.