China regulator cancels net purchase requirement for brokers: sources

NOV 24, 20152:16 PM

[SHANGHAI] China's securities regulator has canceled a requirement that brokerages must have a net positive purchase position on daily proprietary trading, three sources with direct knowledge of the matter told Reuters on Tuesday.

At the height of the equity crash in July, 21 Chinese brokerages pledged to invest at least 120 billion yuan of shares in a bid to stabilise the country's stock markets.

The statement also requested that all branches of the regulator further strengthen risk management, although it highlighted that the equity market had slowly begun to stabilize.

REUTERS