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Investment Banking Sector Faces New Opportunities
A more mature capital market has raised higher requirements for China's financial intermediaries, and the enterprise reform and system innovation with the aid of the capital market also brought important development opportunities for China's investment banking sector, according to experts attending a recent seminar sponsored by China International Financial Corporation.
Wu Jinglian, a researcher from the State Development and Research Center, said there are two opinions towards the overall arrangement of the national economy: one is to arrange in accordance with the wills from the authorities, which proves to be unsuccessful; the other is to implement the operation of the capital market to obtain the optimal allocation of resources and capitals. The capital market, is something like a "huge but delicate machine," according to Wu, which calls for better financing service from investment banks in China.
Li Jiange, a senior official from the State Council, said the ongoing reform on China's social pension system has brought up some superb opportunities for the development of China's investment banks. He points out that China's investment banks and securities companies should improve their services to meet the needs of the new welfare system. Apart from the traditional share sales business, they should do more to offer more consultation on the enterprises' reshuffling efforts. Li said that once the new social welfare system is implemented, investment banks should be able to provide services on fund management and asset entrusting management by offering different kinds of financial products. (Panorama)
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