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CSRC Takes Long-Term View Of Regulatory Shake Up

by Carla Johnson, Investors Offshore.com

25 March 2002

The Chairman of the China Securities Regulatory Commission (CSRC) has stated that short-term interests should not be prioritised above the long-term development of the country's stock market.

Speaking at a forum on the Chinese stock market in Beijing last week, Zhou Xiaochaun defended the regulatory body against criticisms from investors and officials, who argue that the CSRC's shake-up of the regulatory regime for the securities industry has damaged market stability and dented investor sentiment.

Referring to the fact that the value of the Chinese mainland's market has tumbled by around 40% since the CSRC adopted tough new measures to stamp out irregularities and malpractice, Mr Zhou observed that:

'There are often conflicts between the long-term goals and short-term gains when new policies are launched...but we should have long-term perspectives.'

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