Investor compensation scheme launched

A stock rescue fund to compensate investors who get caught up in the collapse of mainland brokerages is to be launched by regulators, state media reported. A company was set up in early September to manage the fund, overseen by five government agencies, including the China Securities Regulatory Commission, the Ministry of Finance and the People's Bank of China. Analysts believe the fund, which will be financed by small portions of stock trading commissions from the Shanghai and Shenzhen stock exchanges, as well as brokerages, could be worth up to US$6.2 billion.