Li Yang, former vice president with Chinese Academy of Social Sciences

"Without a healthy interest rate system to transfer capital liquidity to the real economy, the predicament for companies which want to raise funds won’t be eased," said Li Yang, former vice president with Chinese Academy of Social Sciences.

 

Huang Wei, assistant chairman of CSRC

"Under the new registration-based system, the Shanghai and Shenzhen stock exchanges will be in charge of reviewing IPOs, not the China Securities Regulatory Commission," said Huang Wei, assistant chairman of CSRC.

"The new registration-based IPO system will lower the threshold for companies to list as it will reduce 36 requirements under the current approval-based system," said Xu Ming, deputy general manager of the Shanghai Stock Exchange.

"Financial innovation is necessary as there is a strong demand from SMEs to borrow money to expand but they have difficulty in getting loans through the traditional banking system due to higher risks; the market sees solutions in channels like P2P lending and private banks, and I see them growing explosively in the future," said Wan Jianhua, the incoming president at Shanghai Internet Finance Association.

"Diversity is essential to happiness. This works for the financial industry as well. What we will insist on doing is something different from state-owned banks — something small and delicate to better serve mass entrepreneurs," said Ling Tao, president of Shanghai Huarui Bank, one of the first registered private banks in China.