Central bank attempts to improve capital market

CHINA - People's Bank of China Governor Dai Xianglong said the ongoing crackdown on illegal transfers for stock purchases is part of a strategy to improve the local equities market, China Daily reports Friday 28 September.Dai said the campaign against illegal transfers is aimed at "protecting and developing the market," the report says. However, he said while some of the money in China's stock market is illegally sourced, a large amount has been legally invested.China's regulators have been i