The plan of the long-anticipated China’s second board market is still in the process of improvement, according to a senior official.
Zhang Zhigang, deputy director of the State Economic and Trade Commission, said the authority is bidding the appropriate time to launch the market.
To allow small and medium-sized businesses with good growth to enter the capital market is an important measure of the state to help them raise the badly needed funds, Zhang said.
However, the second boards in advanced countries in the world are all plagued with various problems presently, he said.
According to him, China should study and draw on the experiences and lessons from foreign second board markets and better China’s second board plan gradually.
“That will need some time,” he said.
Therefore, China should carry out the program in a gradual way and set up the board when all the conditions are met, Zhang concluded.
(People's Daily 07/31/2001)
