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Opinion

Beijing finally shows the market some respect

Even a partial retreat from constant interference is good news for investors

| China
Chinese authorities have accepted that markets bring losses as well as profits. (VCG/Getty Images)

China's stock markets last year were the worst performing among major exchanges. Deleveraging, tightening credit conditions within the private sector, a trade war that wasn't supposed to happen, and a slowing economy showing weakness across most industry metrics all took their toll.

The year, though, ended on a positive note: the government's high-level Financial Stability and Development Committee pledged in late December to curtail official intervention in the stock market, weeks after a similar declaration from the China Securities Regulatory Commission.

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