China's CSRC approves the issuance of 37 funds to boost stock market recovery!

The Futures trading platform app downloadChina Securities Regulatory Commission approved the release of 37 retail funds over the weekend, as the government aims to revitalize the troubled stock market.

The government implemented a series of measures to support the market, including reducing stamp duty, slowing down the IPO process, and lowering margin financing requirements.

According to the official website of the China Securities Regulatory Commission (CSRC), the newly approved funds will direct new capital into the market, including 10 Exchange-Traded Funds (ETFs) tracking the small-cap CSI 2000 index and seven ETFs focusing on technology.

The remaining 20 products are innovative mutual funds that will, for the first time, charge investors variable fees, which are linked to the fund size, performance, or holding period.

The CSRC has committed to accelerating the approval process for ETFs, guiding asset management companies to lower management and transaction fees, among several other market-friendly measures.

China's blue-chip CSI300 index opened up more than 5% on Monday but still fell around 6% from its April peak.

Last month, China's leadership pledged to boost investor confidence and rejuvenate the stock market. The world's second-largest stock market is being impacted by a slowdown in the recovery and an intensifying debt crisis in the real estate market.

According to the official China Securities Journal, the recent support measures highlight the authorities' determination to stabilize the capital market, which is crucial for China's economic recovery.

An active capital market is essential for stabilizing expectations and boosting confidence. The determination of policymakers to revive the market and enhance confidence should not be overlooked.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.