Reporters' Log

Charge for unlocked share trading proposed

By Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-03 16:19

The Revolutionary Committee of the Chinese Kuomintang suggested on the first day of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) that the government charge extra money for selling unlocked shares in the stock market.

It said an obligatory share repurchase system should be set up in the meantime to stabilize the market.

The illegal sale of nontradable shares must be punished more seriously, the party suggested.

Meanwhile, China's Democratic League proposed that the government set up a special fund to stabilize the stock market and help it survive the financial crisis. It also said the Shanghai and Shenzhen stock exchanges should seize the opportunity to invest in overseas bourses during the global financial crisis.

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