China's most sophisticated and occasionally most reviled regulator, the China Securities Regulatory Commission CSRC, finally got the heavyweight support it needed Wednesday morning after key government ministries issued a joint circular extending the recent stock market reforms to the rest of the market's 1,300 companies.
Apart from the CSRC, the signatories comprised the State-owned Assets Supervision and Administration Commission SASAC, the Ministry of Finance, the Ministry of Commerce and the People's Bank of China.
Observers say this is a crucial sign that the CSRC-sponsored plan has been fully adopted by the top levels of the Party and government.
The...
