The China Securities Regulatory Commission (CSRC) proposed steps including cutting trading costs, supporting share buybacks and encouraging long-term investment to support a stock market (.CSI300) that has slid to nine-month lows.
China's leaders vowed in late July to reinvigorate the stock market, which has been reeling as the country's economic recovery flags and woes in the property market deepen.
The CSRC said on Friday that stablizing the stock market was a priority.
"Without a relatively stable market environment, there's no basis for reviving the market and lifting sentiment," the regulator said.
"The key to lifting market sentiment is to rescue the economy, and the property market is the crux," Niu said.
Persons:
Aly, CSRC, Niu Chunbao, Niu, Pang Xichun, Jason Xue, Samuel Shen, Tom Westbrook, Toby Chopra, Jan Harvey
Organizations:
REUTERS, Rights, China Securities Regulatory Commission, Ministry of Finance, Wanji Asset Management, Nanjing RiskHunt Investment Management, Thomson
Locations:
Shanghai, China, Nanjing, Singapore