Securities regulator ends risk-control campaign
4 September 2007
A three-year campaign aimed at controlling market risk run by the China Securities Regulatory Commission (CSRC) has ended, Economic Observer reported (in Chinese). 27 securities firms were deemed high-risk and were reorganized, and 19 firms were closed. The CSRC closed more than ten million irregular accounts during the campaign. The regulator's chairman, Shang Fulin, said that because China's capital market is in a formative period, the CSRC launched the campaign to address possible market risks.