CFP. China's capital market regulator pledged to step up efforts to propel cross-border investment and financing, increase the appeal

China is set to slash pay for staff at its top three financial regulators, including the central bank, by about half, as part of a regulatory revamp unveiled in 2023 to bring their salaries in line with other civil servants,

China rolled out a basket of measures to stabilize its stock markets, including plans to boost the amount pension can invest in the nation’s listed companies, as it combats uncertainty in a second Donald Trump presidency.

Starting this year, 30 per cent of the annual insurance premium from new policies will be put into yuan-denominated A shares, regulator Wu Qing said.

State-owned insurers and mutual funds are expected to play a pivotal role in the process, the China Securities Regulatory Commission and the Ministry of Finance said in a press briefing.

China will implement the second phase of a pilot program aimed at facilitating insurance funds making long-term stock investments in the first half of 2025, with a program size of no less than 100 billion yuan ($13.7 billion), said Wu Qing, chairman of the China Securities Regulatory Commission.

Starting this year, major Chinese state-owned insurance companies will "strive to" invest 30% of their new premium income in mainland-listed stocks, Wu Qing, chairman of the China Securities Regulatory Commission, told reporters. He said this should pump "hundreds of billions of yuan of new long-term funds" into the stock market.

The China Securities Regulatory Commission, the country's top securities watchdog, said at a work conference on Monday that it will step up joint monitoring and supervision of the country's stock, exchange-traded and over-the-counter markets, as well as the futures and spot markets.

An investor group is mounting an eleventh-hour $13.5 billion offer for Paramount, claiming it is superior to the Larry Ellison-backed Skydance deal.

Gold hovered near record highs in Asian trade as the dollar weakened on Trump's call for immediate interest rate cuts by the U.S. Federal Reserve.

Share buybacks by China's A-share listed companies reached a record high in the first eight months of 2024, with approximately 1,900 companies buying back shares worth over 130 billion yuan marking historical highs, according to data from the China Securities Regulatory Commission.