Zhou Daojiong actively promote innovation and development of tradable securities under the

 Actively promote innovation and development of tradable securities under the
mm in the second session of the China Securities Market Annual Meeting of the former Chairman of China Securities Regulatory Commission
speech, former president of China Construction Bank, PECC Financial Market Development Committee Chairman Zhou Daojiong
by the Securities Daily, State Council Development Research Center of Financial Research, Peking University, Anhui Tongling Municipal Government organized the held. First, on behalf of the annual meeting of the Organizing Committee to the NPC Financial and Economic Committee, China Securities Regulatory Commission, China Banking Regulatory Commission, China Insurance Regulatory Commission, People's Bank of China, National Development and Reform Commission, the SASAC and other relevant departments to express my sincere thanks the support to the participants of the distinguished guests and friends a warm welcome!
as a fundamental system of China's capital market reform, the share reform in all areas under the careful organization and concerted action, after a year of hard work, good progress , almost basically completed, and its significance is profound. It is in this annual meeting held under the background.
we know, with 10 years of China's stock market troubles tradable basically solved the problem the securities market has undergone fundamental change pattern, a series of market regulatory reform and innovation are the basic system in depth. In the circulation conditions, to regulate the securities market development and innovation promotion will be the focus of the work. Therefore, the current Annual OK ; Eleventh Five-Year Plan The annual meeting of National Development and Reform Commission also invited to the main leaders on the and stock market listing in 2006 has become an important investment in the main line, and that the central integration of related enterprises in Shanghai and Shenzhen listed companies have held up quite well. stock market have been taking place in the reform initiatives and product innovation, such as directional issuance, repurchase, warrants and other all with the state-owned holding companies. SASAC had also repeatedly made clear that the Central will present nearly 200 large state-owned playing a large internationally competitive companies or enterprise groups, the state-owned assets to the important industries and key fields, the industry pacesetter concentration. can be expected, the central enterprises will integrate the central enterprises to change the current market, the 200 A shares of holding company status. Therefore, the annual meeting of the principal leaders invited to the SASAC for the state-owned Development of Securities Market Innovation Holdings keynote speech.
the annual meeting of the Shanghai and Shenzhen stock exchanges are also invited to the State Council Development Research Center, listed companies, securities companies, fund companies, foreign banks (QFII) and other agency representatives and experts around the breakthrough progress has been made in institution building, comprehensive management of securities companies, listed companies standardize development, development and expansion of institutional investors and improve and perfect the market and the legal system a lot of hard and painstaking work, have made remarkable achievements. With the split share structure reform basically ended, a new era of a new circulation toward us.
in the circulation conditions, the governance structure of listed companies will face reconstruction, the market will be an endless stream of innovative, value investment philosophy will be a real deepening of institutional investors who will lead the market as the market mainstream mainly to change the direction of long-term investment hh all these new features of the new pattern, all we need to study concluded. Let us join hands, and actively promote the circulation of innovation and development under the securities markets, China's securities markets function together to create better, more rational pricing mechanism, the market more efficient, stronger international competitiveness of a better future!
here, another point to raise, that is, the development of financial futures market in China is facing new historical opportunity, ready to come. tradable share reform, such as with the basic completion for the launch of stock index futures clearing the way; With the RMB exchange rate formation mechanism and the acceleration of interest rate market, the emergence of financial market volatility, not only hedge as internal demand, but also for financial derivative products based on the transaction and so on. In short, positive and steady development of financial futures market conditions are ripe, we must attach importance to cherish and work together, run the financial futures market in China.
Finally, I wish the conference a great success!