MNI BRIEF: China To Support Stock Markets Further

Chinese authorities will enhance stock market support via increasing liquidity and easing regulations, officials told reporters on Wednesday in a briefing. 

Beijing will fully support Central Huijin Investment in leveraging its role as a quasi-stabilisation fund, with the central bank providing the liquidity to the company, said Wu Qing, head of China Securities Regulatory Commission. 

Li Yunze, head of the National Financial Regulatory Administration stated China will further expand pilot programs for long-term investments of insurance funds and plan to approve an additional CNY60 billion to inject funds into the market. (See MNI:PBOC To Buoy Assets, As Stocks, Property Added To Mandate)