Economy

CSRC vows to crack down on futures speculation

By Hu Yang (chinadaily.com.cn)
Updated: 2010-12-01 14:50

The China Securities Regulatory Commission (CSRC) said it will beef up supervision over the futures market to curb excessive speculation, echoing the State Council's call to stabilize prices and contain inflation.

The CSRC said Tuesday in a statement posted on its website that it will further complete trading rules to help enterprises manage price risks and enhance the commodity market's ability to serve the real economy.

Commodities, mostly agricultural products, have witnessed rapid price surges since July, but the CSRC said the current situation indicates a basically stable market with controllable and bearable risks.

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The securities regulator said it will strengthen market supervision, regulate abnormal trading and crack down on illegal activities to ensure a healthy market.

The regulator recently launched a series of measures to clamp down on speculation, including increasing margins, daily price limits and trading costs, in a bid to help the government's price control efforts.