Capital market marching towards new stage of sound growth

The listed companies' state share reform is in full swing in China, some systematic defects restraining the development of capital market are gradually solved and the country's capital market is marching towards a new stage of healthy development, pointed out Shang Fulin, chairman of market watchdog the China Securities Regulatory Commission (CSRC), at a forum on China's capital market recently, according to People's Daily on October 21.

Up to now the total number of listed companies in the nation has increased from 10 at the beginning of the capital market to 1,381 with accumulated funds valued at more than 910 billion yuan.

Shang Fulin said that in the area of attracting foreign funds, there have been altogether 7 special members in Shanghai and Shenzhen stock exchanges so far, and 58 foreign managerial institutions of securities that can directly engage in B-share trading. In addition, 7 joint-venture securities companies and 19 joint-venture fund management firms have been approved to set up. And. 28 overseas institutions have become qualified foreign institutional investors (QFII) with an approved QFII investment quota of 4.05 billion US dollars. In the area of investment in foreign countries, 117 domestic companies have been listed in foreign countries since the first domestic company was listed overseas on July 15, 1993.

By People's Daily Online