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China stocks enter bear market

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Old 06-25-2013, 07:32 AM   #1
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China China stocks enter bear market

Chinese stocks have fallen to a four-and-a-half-year low amid continued concern over the government's credit-tightening policy.

The Shanghai Composite SSE index fell as much as 5.3% to 1,859 points.

This resulted in shares entering bear market territory - describing a 20% fall from a recent peak.

China's central bank has indicated that its credit-tightening policy will continue, saying the era of cheap credit is over.

A government-led credit boom has been one of the key contributors to China's economic growth in recent years.
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