China vows to bring financial markets back on normal track

BEIJING — China’s top banking and insurance regulator said on Oct 19 authorities will work to bring the country’s financial markets back on the track of “normal and healthy development.”

“The relatively large and abnormal fluctuations on the financial markets in recent days, a result of multiple factors, have been seriously out of line with the fundamentals of China’s economic development and inconsistent with the overall stability in China’s financial system,” said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission.