Chi to modernise fincial market system

Beijing, November 15: Chi will modernise its fincial market system in the next five years, said a senior official of the central bank.

More fincial business will be carried out to make the market more elastic, Xinhua quoted Bank of Chi deputy head Pan Gongsheng as saying on Saturday. Internet fincing, venture investment funds, industrial investment funds, private equity investment funds and asset magement will be guided for healthy development.

The country will continue to boost the liberalisation of the exchange and interest rates and optimise resource distribution, Pan said. A multi-layer market will be established, both for over-the-counter transactions and stock exchanges, to explore more fincing channels and enhance direct fincing, he said. Foreign exchange, bills, gold and insurance markets will be coordited to satisfy different investment needs.

Meanwhile, magement of fincial markets will become more prudent to lower risks, Pan added. (IANS)