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China to Standardize & Develop Capital Market: Member of CPPCC
With ten years of development, China's securities market has made great achievements. However, problems existing in the market should be fully aware of in a bid to promote the standardization and smooth development of the market, said Zhang Kejian recently, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body.
According to him, the securities market in China is far from being standardized due to its short history and special historic economic environment, which has put great impact on the performance and development of the market.
Such points should be paid special attention to: the wrong doings of the listed companies, the poor marketazition of the initial public offering of shares, the inside transactions in the secondary market and the manipulation of stock prices.
Zhang suggested that the perfection of the securities market follow the following aspects:
First, to perfect the law environment, to strengthen law executing and to be self-disciplined;
Second, the speed up the establishment of the regulations on the securities market;
Third, the improve the share rights of the listed companies gradually but surely in a bid to meet with the international market;
And fourth, the develop securities investment funds, to foster rational institutional investors so as to promote the development of the secondary securities market.
Source: Panorama
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