China Moves to Develop Securities MarketChina is now forming a series of policies to push development of its securities market, said Tu Guangzhao, secretary-general of the China Securities Regulatory Commission, on July 25.He detailed the policies at the 7th Asia-Pacific Finance Association (APFA) annual conference which opened on July 24, including those for securities registration and settlement, the equity fund for investors, laws on funds and futures, allowing joint-venture companies and overseas companies to list in the country, and opening the domestic stock market to a certain number of foreign investment organizations. He said that China's securities market has developed into a national market from the original local one a decade ago and become an indispensable part of China's economy. Statistics show that there were more than 1,000 listed companies in China by the end of this June, with 300 billion shares in the domestic market. The secretary-general said more attention will be paid to building a regulated market and to promoting financial innovation to strengthen an information system for securities and futures. More than 400 economists, professors and entrepreneurs from the Asia-Pacific region are here to discuss finance and technology in the 21st century. |
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