| China to gradually develop corporate bonds, financial derivatives |
| 2007-12-03 05:49 |
| From:Xinhua Article type:Reproduced |
SHENZHEN -- China will gradually develop corporate bonds and financial derivatives to provide investors with effective risk management tools, Shang Fulin, chairman of China Securities Regulatory Commission (CSRC), said on Sunday. The CSRC will continue to boost the ratio and scale of investment in capital markets by the insurance, annuity, and social security funds, Shang told a forum held in southeastern Chinese city of Shenzhen. He called on institutional investors to explore new, effective ways to educate individual investors of risks involved in buying securities. The CSRC will also take further measures to boost regulatory level and to clamp down on illegal market activities, the chairman added. To achieve the goal, the CSRC has implemented "real name registration system", one of the preparations made for the debut of stock index futures, for futures investors starting from Saturday. It ordered investors to open accounts carrying their own ID cards and futures brokers to take pictures of the investors. For those who opened accounts before Saturday, they need to provide relevant data in six months. The "real name registration system" will help boost transparency of the futures markets, protect legitimate rights and interests of investors, and effectively guard against financial crimes such as money laundering, a CSRC official said. |
| (Source: English Site of Department of Information Technology) |
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