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CSRC Chairman deliveries a speech at Asian Financial Forum

(People's Daily Online)

20:30, January 14, 2013

(File Photo: Guo Shuqing, Chairman of China Securities Regulatory Commission. )

Guo Shuqing, Chairman of China Securities Regulatory Commission (CSRC), delivered a speech at the Asian Financial Forum, Hong Kong, Monday, titled “To Develop a More Open and Inclusive Capital Market in China”. Chinese stocks produced their best performance in almost a month on Monday, led by financial and defense shares. Following is the full text of Guo Shuqing’s speech as released by the CSRC ‘s official website.

To Develop a More Open and Inclusive Capital Market in China

Guo Shuqing, Chairman of China Securities Regulatory Commission

Good morning, Ladies and Gentlemen,

It is a great pleasure to attend the Asian Financial Forum. I would like to extend my sincere thanks to the organizer for inviting me and allowing me to share with you our experiences and views.

First, let me update you the latest development of the capital market in China.

Our capital market is a product of reform and opening up. Currently, the stock market capitalization, the balance of bonds and the trading volume of commodity futures all rank among top markets globally. We can say that, China spent only 20 years to travel the journey which took Europe and North America 200 years. However, like all metaphors, it is not exactly accurate.

Our market is full of vitality. Electronic trading technology has been adopted since the capital market's inception in the early 1990s. E-trading makes it easy for investors to participate, thus a huge number of investors have come to trade. In the A-share market alone, there are 78 million retail investors, with over 168 million trading accounts. If we take their families into consideration, then the stock market involve around 200 million people.

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