China’s financial regulators announced reforms in Shanghai, targeting government bond trading and the tech-focused Star Market. Central bank chief Pan Gongsheng emphasised gradual implementation of bond trading with the finance ministry, dismissing comparisons to quantitative easing. Expectations are rising for the PBOC to start bond transactions, though details are limited. Concurrently, the China Securities Regulatory Commission plans new measures to enhance the Star Market, aiming to improve company quality and attract long-term capital. Chairman Wu Qing promised strict action against market misconduct and tighter regulation of high-frequency trading and OTC derivatives. Additionally, Li Yunze of the National Financial Regulatory Administration discussed promoting the insurance industry’s development, including potential investments in gold contracts.
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