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China's securities industry at its best in history

By Xu Zhifeng (People's Daily)

15:35, May 10, 2012

Edited and translated by People's Daily Online

China's securities companies and securities industries currently are in the best development period in history and the whole industry should keep improving their abilities of serving customers and their core competitiveness to satisfy internal demands of the real economy, said Guo Shuqing, chairman of the China Securities Regulatory Commission (CSRC) at the Innovation and Development Conference of China's Securities Companies held on May 8.

Guo said that China is a country with rarely-high savings and the total amount of China's annual newly-increased capital ranks first in the world. However, China's channels of changing the savings into investments are still not smooth and contain many low-efficiency links, leading to quite serious misallocations and wastes of resources and a situation that so many small and medium-sized enterprises have difficulties to find investments, but so many private capital holders have difficulties to invest their money.

In Guo's opinion, China's securities industry and financial innovation is in the best period of history currently.

First, China's industrial structural adjustment and development mode transition are gradually deepening.

Second, the wealth management has turned into an urgent requirement of the whole society.

Third, the interest rate and exchange rate reforms are accelerating, and the financial product pricing and risk management have turned into general requirements of enterprises and families.

Fourth, people from all walks of life have quite high expectations on the new round of reform on the security industry.

Fifth, the rise of China's overall opening-up level will create better conditions for the financial innovation.

Read the Chinese version at


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