China's IPO market world's largest

Qi Bin, director-general of Research Center of China Security Regulatory Commission (CSRC), said at the National Postdoctoral Economics Academic Forum that at present, China had become the world's largest IPO market and this trend would continue in the future. But the mechanism of China's capital market still had many problems that must be resolved.

Qi pointed out that IPO funds raised in China's stock market this year was about 900 million yuan, far ahead of other markets, but China's capital market still had many mechanism issues that must be resolved. These problems included the structural problem, mechanism and cultural issues. Our target was to become a first-rate market by 2020. The development path of China's capital market would take marketized, legal and international orientations.

Regarding the problems China's capital market is facing, Qi Bin said that the reform of capital market would be promoted in the following areas: strengthen supervision of the GEM and its sustainable development; enforce the planning and construction of off-exchange; support for PE development; enhance the bond market development; improve the quality of listed companies in China; promote the internationalization of capital markets;intensify the multi-level building of the regulatory system.

By People's Daily Online