July 25, 2019 / 11:23 AM / 4 months ago

China will continue to clean up exchanges - regulator

SHANGHAI, July 25 (Reuters) - China will continue to clean up various illegal exchanges trading everything from financial assets to stamps and commodities, the securities regulator said on Thursday.

Although the State Council, or cabinet, ordered the clean-up in late 2011 to ward off financial risks, exchanges are still “too many, and too miscellaneous”, the China Securities Regulatory Commission (CSRC) said in a statement on its website.

Regulators will improve supervision over exchanges, and prevent illegal activities from reviving, according to the statement.

CSRC made the statement after holding a meeting with provincial government officials and regional financial watchdogs on July 18. (Reporting by Samuel Shen and Andrew Galbraith)

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