China's Stock Market Value Exceeds 4,600 Bn YuanBy the end of November this year, China's stock market value had surpassed 4,600 billion with the number of investors opening an account in the bank exceeding 56 million and the market has realized non-paper circulation and dealing of stocks, funds and bonds, according to Zhou Xiaochuan, chairman of the China Securities Regulatory Commission (CSRC).Zhou made these remarks December 16 at the China's Stock Market 10-Year Forum, co-sponsored by the China Economic System Reform Research Institute, China Securities Industry Association, Shanghai Stock Exchange, Shenzhen Stock Exchange, China Securities Market Research and Design Center and Zhongguancun Sci-tech Park. Zhou spoke highly of the success achieved by China stock market in the past 10 years. For example, the trading and clearing nets of Shanghai and Shenzhen Stock Exchanges has extended to the whole country and the main technological instruments have reached world's advanced level, he said. Meanwhile, he pointed out that there are still some problems hampering the development of China's stock market, e.g., the market is far from standardization, market manipulation and frauds can be frequently seen, supervisors and effective measures are deficient, the level of internationalization of the market is limited, etc. Such being the case, the CSRC will grasp three key links so as to settle these problems. It will strengthen the legal system construction of the securities market and manage the stock market according to related laws and regulations; ceaselessly promote the progress of the marketization of stock market and persistently bring the role of market mechanism into play; earnestly change the supervision concept and effectively protect the benefits of medium and small investors. By PD Online Staff Du Minghua |
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