Caijing: China Securities Regulatory Commission isn't planning a stock-stabilization fund

Caijing Magazine reports, via MNI:

• The China Securities Regulatory Commission isn't planning a stock-stabilization fund
• Says this message came from a meeting with the watchdog and brokerages Friday afternoon where they discussed the exit of stock-market rescue measures
• They all disagree with a fund because it will have moral-hazard risks and isn't a necessity