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State Share Sale Program, a Problem of How but not Whether, Economist
The state share sale program which has been lately suspended by the Chinese government exists serious defects to badly impair the basis of Chinese securities market, pointed out a Chinese expert.
Wu Xiaoqiu, well-known Chinese economist, made the remarks at the on-going Chinese Business Capital Summit in Beijing Wednesday. He said that he firmly supports the correct decision made by Chinese Securities Regulatory Commission to call a halt to the state share sale program. "The government has made a timely decision and this reflects the decision-making process is based on the principle of seeking truth from facts", he is quoted as saying.
The program was approved last June 14th and was called to a halt only four months later, a phenomenon rarely seen in China. The suspended one is a program short of market research and deviated from the principle of fairness and transparency, he added.
However, the orientation is correct and the state share sale is imminent as well as a historic mission for Chinese securities market, the economist said. "The problem is how but not whether to carry out the program".
By PD Online Staff Li Heng
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