Rekindle the stock market
THE TIMING OF THE AUTHORITIES' LATEST promise on financial reforms might have made it look like a stopgap effort to boost the country's sagging stock market.
But such a blueprint for capital-market overhaul is not, and should never be, about the short-term performance of Chinese shares.
Instead, by boosting regulatory transparency and widening market access, the significance of the new reform guidelines should be evaluated by their long-term role in rendering the dysfunctional domestic stock market a really working one.
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