China chief securities regulator Lui: too early to discuss pulling state funds out of stock market; will act decisively against abnormal market volatility - press
The recently appointed China Securities Regulatory Commission Chairman Liu Shiyu said the govt intervention in the stock market last summer helped ward off systemic risks. He said the govt had an obligation act last summer in the face of tightening liquidity. Also stated that a stock market circuit breaker system is not appropriate for China's markets.