This is on the

This is CBS I on the world with John Bachelor.

Here's John Bachelor.

With Cordenshang at, at Gordon G Chang.

Headline Bloomberg, Asia.

China Titans Grip on stocks with net sale ban at open, more China drafts private sector law hoping to

boost confidence more quant hedge funds face China clamp down gordon and I very keen to welcome Fraser Howie, co-author of

Red Capitalism, the fragile financial foundation of China's extraordinary rise, Fraser would appear that someone in the Chinese Communist Party is anxious about the market.

What's happened? How is it that they think they can tighten a grip and that the market will pay attention to them?

Good evening to you.

Hello, John, hello, Garden.

Of course, the difficulty here is that you have the very man at the top giving instructions

which are pretty or giving so vague guidelines of 41st.

He wants to dictate outcomes to Shejian Ping and everyone underneath them within the party and

within the institutional structures are then scrambling for ideas to how to

dictate outcomes. The market has been weak, the market fundamentally has been weak because the economy is weak.

There is no trust or faith in the economy anymore and she's running off it.

The market's falling. People are taking their money out before they lose even more, and you have the regulator

and the exchanges going after who they see, they're always looking for a guilty party that someone's

behind this. They can't believe that it's their own mismanagement. So they're looking particularly

at the moment. China's a very heavily traded electronic market and so a lot of flows come

through computers through computer models and they're going

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