As expected by many analysts, China’s top securities regulator is already waving off the effect of the trade war on its markets.
The latest statement by Yi Huiman, chairman of the China Securities Regulatory Commission, CSRC, speaks volumes.
In a statement cited by Reuters, Yi said the trade ban would not affect the Chinese equities market ad that China has tools in its kitty to cope with risks and stabilize its markets.
Part of his approach is the expansion of the country’s exchange-traded bond market and futures market to foreign participation.
China and the US have in recent time rachet up trade tensions which is now called a ‘trade war’.
Less than two weeks ago, the US added Huawei Technologies Co., the world’s largest telecoms company to its ‘Entity List’, a status that bans Huawei from doing business in the US and with an American company for that matter.