China will step up risk monitoring in agricultural futures to ward off excessive speculation and price manipulation, and is studying ways to deregulate the sector and open it to foreign investment, a senior market regulator said on Saturday.
Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), said China would encourage fundraising by futures brokerages via listings in domestic and overseas stock markets, as well as on China's New Third Board, the over-the-counter equity market.
As China's corn and other sectors undergo major reforms, "futures exchanges and market monitoring centers must strengthen front-line supervision, closely monitor and ward off market risks, prevent excessive speculation and crack down on illegal activities such as price manipulation," the CSRC website quoted Fang as telling a forum. Preparations would be made for the launch of options for agricultural products, Fang said.
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