--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

Upgrade of Securities Market Structure Top Concern

China's securities regulators will take concrete steps to upgrade the structure of the securities market and pace up product innovation in the sector this year.

 

Analysts expect that more reforms will be made on the stock listing and new share issuing system, the risk prevention mechanism and the overall market supervision scheme, said Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC).

 

To ensure the healthy and solid growth of the capital market, it is essential to further improve market fundamentals and adjust the regulatory system according to changes in the market, said Shang at an annual work conference that ended on February 12 in Beijing.

 

After years of consolidation, China's stock market is gradually moving out of the bearish stage and market confidence is recovering. Under such circumstances, the CSRC is innovating and maintaining the stability of the bourses a priority.

 

"We will work hard to protect investor interest, upgrade market efficiency comprehensively and build a competitive investment and financing environment," said Shang.

 

"Innovation is the driving force for the reforms," he said.

 

With the adoption of more market-driven rules and regulations, more investment products are expected to come onto the market and more quality listed firms will emerge.

 

The market will also open wider to foreign investors, said Shang.

 

He also pledged to solve the historic problems in the bourses in an active but prudent manner.

 

The State Council released a document on the development of the capital market two weeks ago, which framed its development strategy encouraging investors to invest in the bourses and promising preferential tax treatments.

 

It also promised a sound and active solution to the liquidity problem brought by the existence of a great volume of non-tradable State and legal person shares.

 

Shang said the focus of the CSRC's work this year is to implement the State Council's new policies.

 

By the end of 2003, the number of listed companies in Shanghai and Shenzhen reached 1,287, with a total market capitalization of 4.2 trillion yuan (US$507.2 billion), according to CSRC statistics.

 

But direct financing is still underdeveloped in China. And as the listed companies are mostly State-controlled companies, many private firms are thirsty for raising funds.

 

To better finance small- and medium-sized enterprises (SMEs), China is planning to set up the second board market in Shenzhen.

 

Shang said the second board would be build in stages.

 

A special counter would be established first on the main board of the Shenzhen Stock Exchange to bring together SMEs and high-tech firms.

 

Building a separate second board market would take more time, insiders said.

 

To prepare for this plan, the Shenzhen Stock Exchange, which suspended new share offers more than two years ago, started a trial operation of the trading system for new share offers this week.

 

The move is regarded as a sign for an imminent resumption of new share offerings on the exchange.

 

"We are making final preparations for the restart of share offers, which should be very close," said an exchange official, though the exact time frame is still not set.

 

But he said that the new share issues should be dominated by SMEs, and relative listing regulations and threshold would be gradually amended.

 

"Many SMEs have already received CSRC approval for public offering and are lining up for the listing," said an official with the investment banking department of CITIC Securities in Beijing.

 

The traffic jam on the listing road is expected to be greatly relieved by the resumption of new share offerings in Shenzhen, she said.

 

(Xinhua News Agency February 13, 2004)

New Rule Oversees Securities Watchdog
Securities Watchdog's Bite Upheld
Authorities Act on Fund Fraud Cases
CSRC Announces New Regulation
High-level Meeting to Revive Stock Market
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright ©China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 爆乳美女脱内衣18禁裸露网站| 青青青青久在线观看视频| 夫妇当面交换中文字幕小说| 丰满少妇AAAAAA爰片毛片| 日韩精品免费一区二区三区| 亚洲国产精品美女| 波多野结衣伦理片在线观看| 免费成人在线电影| 网友自拍区一区二区三区| 国产乱码卡一卡2卡三卡四| 国产成人精品怡红院| 国产精品亚洲精品日韩已方| 亚洲欧美日韩精品专区| 精品一区二区三区中文| 和黑帮老大365天完整版免费| 雯雯的性调教日记h全文| 国产成人久久av免费| 日本丰满www色| 国产精品99在线观看| 3d姐弟关系风车动漫(p)_在线观看| 在车里被撞了八次高c| chinesefree国语对白| 好男人社区www在线视频| 一级**毛片毛片毛片毛片在线看| 成年午夜无码av片在线观看| 中文毛片无遮挡高清免费| 日本www在线| 久久久久亚洲精品男人的天堂| 日韩在线电影网| 久久精品无码一区二区日韩av| 最近中国日本免费观看| 五月婷婷激情视频| 最近2019中文字幕mv免费看| 亚洲av无码不卡久久| 欧洲卡一卡二卡在线| 亚洲av无码乱码精品国产| 樱花www视频| 亚洲av无码专区国产不乱码| 最近最新中文字幕| 亚洲中文无码av永久| 欧亚专线欧洲s码wmysnh48|