SDPC Official: No More Stock Exchanges Will Be EstablishedIt will result in duplicated construction and is unfavorable for regulation and not in line with the international trend of merger of stock exchanges to establish new stock exchanges in other cities, according to an official with the State Development Planning Commission (SDPC).The official made the remarks recently in answer to the requests of some cities for establishing new stock exchanges in their localities. He replied that seeing that the computer network and telecommunication technology is quite developed and the securities trading settlement network has covered nationwide, the trading volume of the Shanghai and Shenzhen Stock exchanges can fully meet the requirements of the development of China's securities market. The establishment of Shanghai and Shenzhen stock exchanges was due to some historical reasons in the process of China's reform and opening efforts , the official said. He believes that more energy should be focused on the existing two stock exchanges and it is not advisable to set up new ones. (Panorama) |
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