The Securities Association of China (SAC) on December 15 held its members' conference in Beijing, marking the end of the SAC's restructuring which started in September.

Ma Qingquan, deputy chief of the SAC restructuring working group, said the new SAC's major task is to assist the China Securities Regulatory Commission (CSRC) in educating and supervising its members in implementing securities laws and regulations.

It will protect member's interests according to law and providing information services to members. The SAC is also to promote international exchanges and personnel training in the securities sector.

And it will promote the research of the securities market, Ma said.

The SAC was founded in 1991, shortly after the securities market came into existence in China.

With the Securities Law of China taking effect in July this year, the SAC faces the imminent adjustment of its role and legal position, for which the SAC restructuring working group was set up by the CSRC, which oversees the securities and futures industries of the country.

According to SAC sources, the most important changes in the association are that it is clearly-defined by the Securities Law as a self-disciplined organization of securities firms and has an important role in regulating the market. In the past, the SAC's work focused on services for members.

In its two-day meeting, the conference will discuss and approve the constitution and membership regulations of the new SAC as well as its work report.

The conference will also elect the leadership of the SAC.

Representatives of 141 member firms are attending. (Xinhua)