Market regulator tells media to verify "speculative" reports with it first

The China Securities and Regulatory Commission has warned journalists that all “speculative reports” must “first be confirmed by the CSRC in order to prevent the spread of false information and market disturbance,” The Financial Times reported, citing a statement at the beginning of the commission’s most recent press briefing. But as the rhetoric coming from the CSRC and official media outlets such as the People’s Daily and Xinhua news agency grows more strident, investors and analysts are less inclined to believe it. “We retail investors don’t stand a chance,” said Ge Jinsong, who manages an automotive maintenance centre. “There are too many rumours flying around and we can’t tell which are true.”