xi's moments
Home | Macro

CSRC denies bans on selling of stocks

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-02-22 20:53

A view shows the China Securities Regulatory Commission in Beijing on March 10. [Photo by Yu Zhiqiang/For chinadaily.com.cn]

The China Securities Regulatory Commission stressed on Thursday that the nation's market regulators shall not intervene in normal transactions, denying foreign media reports that regulatory measures have been taken to restrict legitimate transactions of unloading shares and short selling.

"The Shanghai and Shenzhen exchanges took regulatory measures against abnormal trading behaviors of certain institutions according to rules. These actions were taken to fulfill their duties of trade supervision, instead of restrictions on (stock) selling," the CSRC said in a statement on Thursday.

This came after the two bourses said on Tuesday that the share dumping by Lingjun Investment, a quant fund, via multiple products violated rules stipulating that program trading must not endanger exchange systems or normal trading orders. The two exchanges had halted the hedge fund's relevant trading behaviors through Thursday.

The commission said that regulators do not intervene in normal market transactions, in order to ensure investors' rights to trade fairly and freely. Meanwhile, illegal behaviors that disrupt the order of market transactions are "resolutely cracked down" following laws and regulations.

The CSRC will guide stock and futures exchanges to improve the supervision to combat illegal activities such as market manipulation and insider trading, effectively safeguarding the normal order of market transactions.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349