China needs to expand capital markets, make more RRR cuts - China Press

According to the China Securities Journal, a business newspaper operated by the state-run Xinhua news agency, China should begin to make more direct steps towards opening up capital markets, as well as make RRR cuts to promote liquidity.

Key highlights

China should encourage more overseas firms to list A shares on Chinese exchanges.

China should accelerate allowing foreign ownership of Chinese securities and mutual fund firms.

The connections between different stock markets need to be actively strengthened.

More RRR cuts for select banks should be coming in the second half of 2018.