China regulator to check securities firms' financing needs

SHANGHAI (Reuters) - China's securities regulator said on Tuesday it would check the necessity for, and rationality of, securities firms' financing, as part of a vetting process.

In a statement, the China Securities Regulatory Commission (CSRC) added that it encourages brokerage firms to focus on main business, capital-saving and high-quality development.

The CSRC will support reasonable financing for securities companies, it added.

(Reporting by Shanghai Newsroom)