Regulator: Deals crucial to growth

Comments indicate policy support for market, helping to reforming SOEs

Mergers and acquisitions by listed companies have been crucial in supporting China's growth and reform, the top securities regulator said on Tuesday, an indication of greater policy support for the capital market to help reform inefficient State-owned enterprises and reduce excess industrial capacity.

The value of M&A deals by Chinese listed companies reached 2.39 trillion yuan ($360 billion) by the end of last year, making China the world's second largest M&A market, according to the China Securities Regulatory Commission.