China is confident in achieving stable and healthy development of its stock market and has the conditions and the capability to do so, said Wu Qing, head of China Securities Regulatory Commission on Wednesday.
Wu made the statement at a press conference where officials of the People's Bank of China (PBOC), National Financial Regulatory Administration, and China Securities Regulatory Commission introduced a package of financial policies rolled out to stabilize the capital market and expectations.
He first pointed out the implementation of a comprehensive policy system has been helping improve the ecosystem of China's stock market.
"After we implemented a comprehensive policy system to help promote positive and profound changes in the stock market's intrinsic structure, a market ecosystem characterized by coordinated investment and financing is taking shape at an accelerating pace," said Wu.
He then noted China's deeply integrated technological and industrial innovation will help boost its capital market.
"The logic behind investing in the A-share market's technology stocks becomes increasingly clear, the clustering effect becomes more evident, and the vast potential of new quality productive forces is also becoming more apparent as China promotes high-quality economic development. The deep integration of technological and industrial innovation will provide a greater source of value for the capital market," said Wu.
Wu added that as global markets face growing uncertainty, China's economic performance is making the country a more and more attractive destination for investment.
"The valuation of the stocks on China's A-share market is considered relatively low by industry standards and the price-to-earnings ratios (PE) of major domestic indices are significantly lower than those of major international indices like the S and P 500. Amid increasing instability in the global market, Chinese assets are believed to be gaining growing value and attractiveness," said Wu.
"The most important feature of China's market is its overall reliability, characterized by stable economic development, sound macroeconomic policies, and robust institutional guarantees. This provides greater certainty for the economy and the market in an otherwise uncertain environment," Wu added.
China confident in achieving stable, healthy development of stock market: official
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
