CRI听力:Chinese Stock Market Likely to Bottom out

An investor walks past an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, July 2, 2015. [Photo: Asianewsphoto]

A string of supportive measures came out during the weekend, in response to the slumping stock market in China.

The country's securities regulator has announced that China Securities Finance Co., Ltd. will raise funds through multiple channels and expand its business scale to help keep the stock market "stable."

CSF will be supported by the central bank which will provide access to more liquidity.

The CSF is a financial institution jointly founded by Shanghai Stock Exchange, Shenzhen Stock Exchange and China Securities Depository and Clearing Corporation Ltd..

Experts say this can be seen as a Chinese version of a "stabilization fund".

At the meantime, Central Huijin Investment, an arm of the Chinese government, has announced plans to launch a new series of investments into the Chinese A-share market through Mutual Funds.

The ETF's, or Exchange Traded Funds, group bonds, commodities, and a basket of other assets together.

Central Huijin hasn't said how much it plans to spend.

China's largest securities firms also announced this weekend plans to spend no less than 120 billion yuan, or around 20 billion US dollars, on blue chip ETFs to help dampen the recent downturn in the Chinese A-share market.

Nearly 30 Chinese companies, which had been poised to issue IPOs, have also announced they're delaying their initial public offerings.

The Chinese A-share market has been hit hard over the past month, with the benchmark Shanghai Composite Index tumbling nearly 30-percent over the past 3-weeks.

And with more on this, we’re joined once again with Mike Bastin, director of China Business Center in London.