The government will take measures to prevent asset bubbles and
avoid huge fluctuations in the stock market, Premier Wen Jiabao
told reporters on Saturday.
Preventing asset bubbles is like preventing inflation and it is
the government's responsibility to ensure a fair, healthy and
transparent stock market, Wen said in Uzbekistan where he was
attending the Sixth Meeting of Prime Ministers of Member States of
the Shanghai Cooperation Organization.
He added that all measures will be market-oriented options
rather than administrative actions.
The stability of the stock market relies on two basic factors:
The quality of listed companies and a transparent market which
protect not only the interests of enterprises, but also those of
consumers, Wen said.
With more people having entered the stock market, abnormal
fluctuations affect both the national economy and the interests of
shareholders, so the government will closely watch developments, he
said.
Wen also said that lifting gasoline prices by 10 percent on
November 1 was necessary to keep China's oil product prices partly
in sync with global oil prices.
(China Daily November 5, 2007)
