Due to a host of systemic problems, investor confidence regarding the companies trading on mainland exchanges is very weak - even though many of their price-earnings (PE) ratios show their shares are undervalued - and most trading activity in the domestic market is little more than shortsighted speculation.
The CSRC should take responsibility for improving the climate at the market and focus on reforms which compel listed firms to improve their management abilities.
The author is a researcher from Beijing-based consulting firm [email protected]
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