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China Vows to Protect Interests of Securities Investors
China will strive to strengthen supervision over its securities market in an endeavor to protect the interests of investors, especially those of smaller ones, said Zhou Xiaochuan, chairman of the China Securities Regulatory Commission (CSRC), Saturday, December 16.
Zhou made the pledge at a forum held here to mark the 10th anniversary of China's securities market. At the same venue, Gao Xiqing, CSRC vice chairman, disclosed that after its entry into the World Trade Organization, China will allow foreign securities organizations to launch direct B-share trading using the seats they have taken via the bourses.
Gao said that green light will also be given to the establishment of Sino-foreign securities ventures and funds management firms.
China's securities market has witnessed remarkable growth over the past decade, said Zhou, but there are still room for improvement in terms of legislation, supervision and standardization if compared to mature securities markets abroad.
The opening of the stock exchanges in Shanghai and Shenzhen in 1990 marked the launch of China's securities market. By the end of November this year, the total value of stocks amounted to 4,600 billion yuan.
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