China’s market targets are ‘just psychological’, says former regulator

Quick Summary:

Millions of Chinese households participate in the stock market as one of a limited range of investment opportunities available to the middle class in the country, particularly after a recent real estate sector crash.

Beijing sees the exchange rate as critically important to its mission to develop China as a reliable trading partner, with numerous officials calling for a stable exchange rate against the dollar.

Xiao, who was removed as CSRC chief in 2016 after a severe market downturn, said senior officials kept “goals” in their minds for the markets.

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Article Details

Author / Journalist: Sun Yu

Category: MarketsFinanceInvesting

Markets: United StatesChina

Topics: Stock Market Chinese Trading Financial China Leadership Xiao Markets Leaders Senior

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 05:00:38 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 758 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23902052

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 10 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 16 hours ago

Coverage Areas: United States

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Publisher ID: #3

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