A Chinese investor watches the stock trend on the cell phone at a stock brokerage house, July 3, 2015.[Photo/IC] |
The People's Bank of China, the central bank, will assist the CSF to access more liquidity, the CSRC said.
The CSF is a financial institution jointly founded by Shanghai Stock Exchange, Shenzhen Stock Exchange and China Securities Depository and Clearing Corporation Ltd. in 2011.
A raft of supportive measures have been rolled out to prop up the slumping stock market. The benchmark Shanghai Composite Index tumbled by 29 percent in three weeks, including a 12-percent loss this week.
On Saturday, China's 21 major securities brokers announced they would spend no less than 120 billion yuan ($19.62 billion), or 15 percent of their total net assets, on blue chip Exchange Traded Funds.
Twenty-eight Chinese companies that have obtained permission from the CSRC for initial public offerings (IPOs) said they would postpone follow-up issue of shares to avoid draining market liquidity caused by a shares glut.