Chinese equities got off to another rocky start this week, the country’s main index slipping a further 1.5% on Monday despite reassuring noises from state financial bodies and regulators.
The Shanghai Composite slumped to its lowest close since November 2014 and stands at roughly half of the highs of 2015, reports Bloomberg.
Consumer goods were among the hardest hit, as weak sales data of cars and online appliances reached investors.
Liu Shiyu, chairman of the China Securities Regulatory Commission, said publicly that the government is intent on completing capital market reforms and policies of opening-up. He detailed that insurers are being urged to invest more in listed companies and help facilitate firms borrow by issuing stock.