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China's securities regulator said on Friday that the recent market falls are a correction of earlier excessive gains, and that the economy was showing clearer signs of stabilising despite the fall.
The comments were made by the China Securities Regulatory Commission's spokesperson Zhang Xiaojun at the regulator's weekly news briefing.
He also said that the CSRC would continue to clamp down on irregularities in margin trading and that the market liquidity was generally ample.
China stocks posted some of their worst losses in seven years, as investors stampeded out of a market amid increasing signs the country's eight-month-long bull run is running out of fuel.
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