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China's Securities Market to Show Characteristics of Internationalization
A senior seminar on China's microeconomic situation, industrial policy and development of securities market during the "Tenth Five-Year Plan" period (2001-2005) was held in Beijing from March 17 to 18. Some domestic famous economic specialists have expressed their opinions on the current situation and the trend of development of China's micro-economy on the seminar.
The experts attending the seminar believe that during the "Tenth Five-Year Plan" period, the world's economy will continue to maintain a pattern of stable operation, and the overall economic situation will be better than that during the " Ninth Five-Year Plan" period (1996-2000). The growth rate of the world's economy during the "Tenth Five-Year Plan" period is predicted to reach 3.8 percent, a bit higher than 3.6 percent during the " Ninth Five-Year Plan" period. Inflation rate is expected to be better controlled. The average increase rate of consumer price index (CPI) of major nations will be lower than the level during the "Ninth Five-Year Plan" period. The easy environment of global economy and the acceleration of the process of economic integration will contribute to the further expansion of the trade volume of the world at an annual increase rate of 7.5 percent, higher than 6.6 percent during the "Ninth Five-Year Plan" period.
The experts pointed out that the China's securities market will get increasingly market-oriented and standardized in future, the number of institutional investors in the market will increase continuously, and breakthroughs will be made in the internationalization of the market. It is predicted that in the coming several years, foreign funds will be allowed to enter China's stock market through such means as purchasing state-owned legal person shares and setting up joint-venture funds and foreign wholly-owned funds. Foreign funds are likely to be allowed to participate in restructuring and takeover of listed companies. China's securities market will display characteristics of internationalization.
Source: Panorama
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