Reuters China must learn lessons from its stock market rout, the country's vice finance minister said on Saturday, signaling his intent to focus on supervision and the development of new frameworks to make it possible to weather any future market turbulence. By Karin Strohecker and Sarah Young
China's stock market plunged by
nearly a third at one stage earlier this month from a mid-June peak,
wiping around $4 trillion from share values as investors were spooked by
speculation that China's central bank was about to end its monetary
sparked China's biggest rescue effort of its equity market, with the
government launching a series of moves that included halting flotations
and banning companies and their executives from selling shares.
Zhu Guangyao told Reuters Beijing was considering new policies.
is a mismatch for supervision, and that is a real challenge," he said
in an interview at the Chinese Embassy in London. "After the big up and
the big down we saw, we need to learn from other countries, mature stock
markets including the U.S. and U.K."