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Nation developing and opening up its securities industry

By Cai Xiao | China Daily | Updated: 2014-05-17 06:48

China will further expand market access of foreign funds into the nation's securities industry and encourage Chinese cross-border businesses, Yao Gang, vice-chairman of China's securities regulator, said on Friday.

"By good institutional arrangements, the Chinese securities industry will be comprehensive, comprised of State-owned, private and foreign companies," Yao told a forum in Beijing.

Yao said private capital can set up securities firms and market access to foreign funds will grow. State-owned securities companies are encouraged to enter into mixed ownership reform and social security funds. Enterprise annuity managers will be supported in setting up securities firms.

Nation developing and opening up its securities industry

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