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(单词翻译:双击或拖选)
China Securities Depository and Clearing Company Limited announced on Thursday night that both the transaction and scrip fees in the A-share market will be cut by 30 percent, starting next month.
This is the latest supportive measures made by the central government to lower trading costs for investors1 and further ease the stock market.
On Thursday, six monitored insurance companies made net purchases of stocks and funds with a combined value of more than 15 billion yuan.
That same morning, the China Banking2 Regulatory Commission announced it will allow banks to extend mortgage loans that use share funds as collateral3 to prop4 up the stock market.
At the end of Thursday, the benchmark Shanghai Composite Index was up 6 percent.
The Shenzhen Component5 Index surged 4 percent.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, climbed 3 percent.
Tang Yonggang, an analyst6 at Shenyin Wanguo Securities says the market shows signs of stabilizing7 as the regulator came to the rescue of small-caps, especially those on the ChiNext, easing the liquidity8 crisis and giving investors a much-needed dose of confidence.
"Individual stocks on ChiNext reached their daily limits, which have greatly influenced market confidence. We can see this has rapidly provided incentives9 for growth enterprises in emerging industries. Judging from the mainboard, aerospace10 and military industry stocks took the lead to pick up, which has significantly helped boost the public's confidence in the market. "
In the meantime, Chinese police joined the securities regulator to investigate "malicious11 short selling."
Liu Dong, deputy director of Economic Crimes Investigation12 Bureau under Ministry13 of Public Security, says cracking down on illegal and criminal activities in securities and futures14 areas in accordance with law is the duty of public security departments.
"We will increase close cooperation with securities regulators. According to the division of labor15, we'll work together to crack down on alleged16 criminal activities. We'll also investigate and deal with illegal behaviors of spreading rumors17 through internet and contribute to maintaining market economic order."
Meanwhile, the State Council, China's cabinet, has also assured that the government had plenty of tools at its disposal to restore confidence in the economy.
The announcement comes after a cabinet meeting presided by Premier18 Li Keqiang on Thursday.
For CRI, I'm Niu Honglin.
1 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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2 banking | |
n.银行业,银行学,金融业 | |
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3 collateral | |
adj.平行的;旁系的;n.担保品 | |
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4 prop | |
vt.支撑;n.支柱,支撑物;支持者,靠山 | |
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5 component | |
n.组成部分,成分,元件;adj.组成的,合成的 | |
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6 analyst | |
n.分析家,化验员;心理分析学家 | |
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7 stabilizing | |
n.稳定化处理[退火]v.(使)稳定, (使)稳固( stabilize的现在分词 ) | |
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8 liquidity | |
n.流动性,偿债能力,流动资产 | |
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9 incentives | |
激励某人做某事的事物( incentive的名词复数 ); 刺激; 诱因; 动机 | |
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10 aerospace | |
adj.航空的,宇宙航行的 | |
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11 malicious | |
adj.有恶意的,心怀恶意的 | |
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12 investigation | |
n.调查,调查研究 | |
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13 ministry | |
n.(政府的)部;牧师 | |
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14 futures | |
n.期货,期货交易 | |
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15 labor | |
n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦 | |
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16 alleged | |
a.被指控的,嫌疑的 | |
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17 rumors | |
n.传闻( rumor的名词复数 );[古]名誉;咕哝;[古]喧嚷v.传闻( rumor的第三人称单数 );[古]名誉;咕哝;[古]喧嚷 | |
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18 premier | |
adj.首要的;n.总理,首相 | |
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