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Stock Index Needed in China: CSRC Chief Advisor
Chief advisor to China Securities Regulatory Commission Liang Dingbang said that China should set up national main board index and second board enterprise index to accurately and rapidly show enhanced inter-links between China's securities market and the whole economy rising with a speedily developed capital market.
To the chief advisor, national stock index should be established in such world-known stock index forms as Dow Jones in the United States and FTSE100 by London-based Financial Times, which can not only show us visual market trend, but also facilitate the operation of other financial means.
But index stocks should be chosen with great scrutiny and they must be representative enough to reflect more genuinely the market operation, the official pointed out.
The current market needs various patterns of investment, including fixed financial means and financial derivative means and the problems as of working for a combination of A-share/B-share with foreign capital should also be taken into consideration, Liang added.
With respect to nurturing institutional investors, Liang Dingbang said that among the investors are included those of insurance companies, pension funds and other qualified foreign investors and of these, reforms of the system of pension and other related undertakings are embraced as an important component of institutional investment.
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