p2eblockchain|Chinese regulator approves application to suspend securities relending

BEIJING, July 10 (Xinhua) -- The China Securities Regulatory Commission (CSRC) said on Wednesday that it has approved an application by the China Securities Finance Corporation Limited (CSF) to suspend securities relending, with the suspension taking effect on Thursdayp2eblockchain.

Existing securities relending contracts can be extended, but they should be settled before Sept. 30, the CSRC said in a statement.

According to the CSF, the decision to suspend the securities relending business is aimed at maintaining the stability of the market and further strengthening countercyclical adjustment.

Securities relending refers to the business where the CSF lends its own securities or those raised in accordance with the law to securities companies for them to engage in securities lending.

The CSRC said it has also approved stock exchanges' arrangements to raise margin requirements for short-selling activities from a minimum of 80 percent to 100 percent, while the margin requirements for private equity funds will be raised from a minimum of 100 percent to 120 percent. This new policy takes effect on July 22.■