 |
CSIA Official Elaborates on WTO and China's Securities Management Institutions
Ma Qingquan, secretary-general of China Securities Industry Association (CSIA), delivered a speech on the forum on the ten years of China's securities market held in Beijing on December 16.
The main content is as follows:
First, the status quo of the competitiveness of China's securities firms.
1) The status quo is mainly reflected in the following aspects:
1. A multi-level system of securities firms has formed;
2. The average age of professionals in securities firms has been made younger;
3. The business outlets of securities have spread nationwide;
4. The customer groups and trading volume of securities firms have possessed considerable scale.
2) The insufficiency of the competitiveness of China's securities management institutions is mainly reflected in the following aspects:
1. China's securities firms generally have smaller capital scale and weaker anti-risk abilities;
2. The securities firms have unitary business and insufficient innovation abilities;
3. The securities firms deal in identical business, and have no specific characters;
4. The internal management mechanism of securities firms remains to be improved, and defects exist in risk control.
Second, the opining of China's securities market will bring both severe challenges and opportunities to securities firms.
1) The challenges:
1. The competition for business;
2. The competition for talents;
3. The impact on system.
2) The opportunities for China's securities firms to strengthen competitiveness:
1. The opening can bring experience, technology and capital to China's securities firms;
2. The opening of securities market can bring new business to securities firms and help them march toward international market;
3. The opening of securities market can promote the competition among domestic securities firms.
Third, the ways to strengthen the competitiveness of China's securities firms:
1. Expand scale;
2. Perfect organizations;
3. Raise management standard;
4. Actively implement business innovations;
5. Make detailed division of the market to launch characteristic services;
6. Set up and perfect system for talent stimulation;
7. Strengthen the research and development and form the capabilities of new product development;
8. Continue to raise the standard of technology and equipment and improve technological means;
9. Explore the cooperation among securities firms, banks and insurance companies;
10. Seek cooperation with foreign firms, and set up institutions in Hong Kong and foreign countries, etc. (Panorama)
In This Section
|