Beijing bans state shares sales on Chinese stock exchanges

Chinese stock exchangeBeijing has introduced a temporary ban on state-owned companies to selling their shares on the Chinese stock exchanges until the markets calm down, volatility in the stock markets. The decision was announced today by the PRC’s Committee for the Control and Management of State Property after the Shanghai Composite Index fell by than 33% in the space of four weeks and the SZSE by almost 40% over the same period.
Another 173 firms listed in Shanghai and Shenzhen announced trading suspensions after the market closed on Tuesday — bringing the total to around 940, or more than a third of all listed firms on the two exchanges — with reports of even more suspensions before the opening gong this morning.

Source: Rosbalt