4. Curbs on illegal trading contain damage
The China Securities Regulatory Commission launched measures to curb illegal trading in the stock market, aimed at checking instances of individual investors or entities using multiple accounts registered under false names and ID numbers to rack up or drag down stock prices through margin trading. Banks, online investment management platforms and other financing channels were requested to stop offering loans for use in margin trading in the equity market.
According to the Securities Association of China, more than 80 percent of reckless margin-lending activities through unofficial channels have stopped during the three-month nationwide crackdown on market corruption. Benchmark indexes gained slightly by September as investors developed stronger confidence after the equity market cleared margin trading. Analysts said the "deleverage" efforts had brought immediate effects, boosting investor sentiment.
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