Supervision and control on China's securities market should be strengthened and the market should be more standardized to meet challenges in the 21st century, said Zhou Xiaochuan, chairman of the China Securities Regulatory Commission (CSRC), Saturday.
Zhou, attending a seminar at the exposition on the achievements of China's listed companies, said that protecting the interests of investors will be the focus of management in the securities market in the future.
In addition, the CSRC will strengthen information disclosure, establishment of intermediary organizations, training of professionals and crime prevention in the securities sector, said Zhou.
China's securities market has gained rapid development over the past ten years. By the end of October this year, the number of China's listed companies surpassed 1,050, with a total market capitalization of 4,600 billion yuan.
Experts believe that China's securities market will grow faster next year, when the composite indexes of the Shanghai and Shenzhen stock exchanges are expected to reach a new record of 2,500 points and 780 points, respectively.
However, Zhou pointed out that a number of problems, such as insider trading and price manipulation, still exist in China's securities market.
(Xinhua 12/03/2000)
