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The Chinese government is introducing a series of policy measures with the aim of stimulating the domestic stock markets, and hopefully reverse a decline that has sent the benchmark indexes to eight-year lows.
Investors believe more incentive policies could be in the pipeline, as they wait with anticipation for a press conference this afternoon hosted by the head of the China Securities Regulatory Commission.
Market analysts said the highlight of this afternoon's press briefing will be the full circulation of shares of listed firms, including previously non-tradable state-owned ones.
China's securities regulator announced last week it would allow another 42 listed firms to float these formerly non-tradable shares on the domestic markets. Traditionally here in China, most companies had to split their stock between non-tradable state owned shares, so called legal person shares, and shares that could be traded openly. The country is currently in the middle of a major reform of this system.
(CCTV.com June 27, 2005)
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