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CHINA PRESS: Market expectations of efforts to stabilise the tumbling stock
market were supported by positive signals from recent speeches made by heads of
three major regulators, the People's Bank of China (PBOC), China Securities
Regulatory Commission (CSRC) and the Ministry of Finance, said Securities Daily
in a front page opinion piece published on Tuesday.
- Steady monetary policy and proactive fiscal policy are the driving forces
for the ongoing deepening of capital market reform and development, the
newspaper said, noting that the complementary nature of these policies require
close cooperation from the three authorities;
- The finance minister has promised to work on a larger scale of tax and fee
reduction; the PBOC governor has confirmed that there is room for further
monetary policy adjustment; and the CSRC chairman stated that he has met private
equity representatives and individual investors to discuss specific reform
measures this week, reported the Daily.