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Chinanews, Beijing, Aug 22 – Chinese A-share market is currently the largest new capital market in the world. The capitalization of the A-share market has now exceeded 20 trillion yuan, about the same as the country's GDP figure.
The statement was made by Qi Bin, director of the China Securities Regulatory Commission Research Center while he attended a high-level economic forum last Sunday.
With years of development, China's capital market had made great achievement over the past decade, especially during last year when Chinese stock market witnessed a fundamental change against China's sound macro economic background and with the country's concerted efforts on various reforms. More and more people in society have begun to recognize the importance of the capital market. Buying a share has now become a common way of investment for many Chinese families, Qi said.
At present, Chinese capital market has witnessed some new opportunities and challenges. On the one hand, as Chinese economy further develops, more and more companies will rely on the capital market to do financing. On the other hand, China is faced with an urgent task to adjust its industrial structure and economic growth mode. The capital market will play a very important role in this transitional process. In addition, in building a harmonious society, China will try to set up a multi-tiered pension system and reform its medical insurance system. China is also faced with a task of building a new socialist countryside. The capital market will provide great financial support to accomplish these goals, Qi said.
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