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China to continue stabilizing stock market: securities watchdog

Updated: Aug 14,2015 8:12 PM     Xinhua

BEIJING — China Securities Finance Corporation Ltd (CSF) will not withdraw funding in the coming years to stabilize the stock market, the securities watchdog said on Aug 14.

CSF, the national margin trading service provider, will hold its shares for years and stabilize the market when it fluctuates dramatically, said Deng Ge, spokesperson with the China Securities Regulatory Commission (CSRC).

Deng said the CSF has transferred some shares to Central Huijin Investment Co Ltd, an investment arm of the government, and promised not to withdraw funding in next few years.