China to introduce index futures at "appropriate" time: securities regulator

09:04, December 19, 2009      

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China will introduce index futures and margin trading at "appropriate" time in an attempt to deepen reform of the country's financial market, China's top securities regulator said Friday.

Shang Fulin, chairman of the China Securities Regulatory Commission, told a conference in Beijing that the introduction would push forward securities innovation. However, he did not give a specific time for the introduction.

The government would develop new products of securities and futures and improve mechanism for new shares issuance, Shang added.

He said the government should intensify the role capital market plays in resources allocation and encourage private funds to invest in capital market. Listed enterprises would be also encouraged to push forward restructuring to bring more high-quality assets onto the market.

He also noted the government would step up supervision over the ChiNext, the country's start-up board for small and medium-sized enterprises, as the board was riskier than the main stock exchange.

Source: Xinhua
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