Fostering clean market to better protect investors

Bubbles are not identifiable before they burst, so goes a well-known investment saying. For the government, it is better to focus on fostering a fair and clean market than attempting to intervene in the market in the name of defusing bubbles and protecting investors.

China's benchmark Shanghai Composite Index had climbed close to 5,000 in intra-day trading on Wednesday, more than double the level of a year ago, although it slumped by a rare 6.5 percent at the close of the day on Thursday.

And before the "black Thursday", the wildly surging stock index has left many worried about the bursting of the bubbles, which they say would cause great losses for investors, especially those individual investors who have poured huge parts of their family savings into the stock market. They have urged the government to step in, as it has often done before, to prevent it from continuing to rise to accumulate more bubbles.