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Securities watchdog stresses market stability during quake relief

By Xu Shenglan (chinadaily.com.cn)
Updated: 2008-05-15 17:59

Securities regulators at all levels should make every effort to maintain market and social stability during the quake-relief period and should urge  brokers and listed firms to offer investors in-time services and information, China Securities Regulatory Commission (CSRC) said in a notice yesterday.

The CSRC asked all its local units to watch the impacts of the quake on listed companies, as well as securities and futures outlets. The watchdog also vowed to closely follow financial market performances and strengthen market supervision, according to the notice.

Securities supervisors in quake-hit regions should seek information on damages suffered by local securities institutions so as to guide their relief and reconstruction work. Brokers with branches in the disaster-hit area are asked to provide off-site trading services to ensure personal safety. The notice also cautioned them against derivative disasters like aftershocks and epidemics.

To ensure normal trading, bourses and clearing firms are urged to check and maintain their transaction, settlement and communication system to ward off any system failure during the special period.

The notice also required major officials in charge to maintain 24-hour contact. All exchanges and securities supervision bureaus should report disaster developments everyday and major movements in time.