GEM to Enhance Competitiveness of China's Capital MarketThe launch of China's Growth Enterprise Market (GEM) is the inevitable result of the development of China's hi-tech industry and will surely increase the competitiveness of China's capital market, concluded scholars and researchers attending the 17th joint meeting of national brokerage research institutions and the symposium on hi-tech industry development and capital market that were held over the weekend in Beijing.Attendees at the conference included such famous experts as Cao Fengqi, Xiao Zhuoji, Wu Xiaoqiu and the director of Beijing Securities Regulatory Office under the China Securities Regulatory Commission (CSRC). They expressed their views on issues ranging from problems confronting China's GEM and reduction of state-held shares to development of hi-tech industry and capital market. Presently, the macro-economy is fundamentally good and there is sufficient capital on the market, they said. Besides, CSRC's regulatory capability has been improved and the relevant laws and regulations have being perfected gradually. Meanwhile, a large number of hi-tech enterprises are thirsty for support of capital market. Time is ripe for GEM's debut, they said. Currently, while the inventory of state-owned shares remains to be addressed, some newly listed companies started copying the old stock ownership model again, which makes the increment of state-owned shares on the market increase incessantly. To solve the problem, increment capital is needed, they said, adding new policies should be announced to channel social periphery capital into the stock market. (Panorama) |
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