China to encourage capital to flow into poverty-stricken areas: official

BEIJING - China will exert the capital market's advantages in alleviating poverty by encouraging capital to flow into poverty-stricken areas.

Zhao Zhengping, vice-chairman of the China Securities Regulatory Commission, said at a forum Monday that the country will encourage funds, talents and technologies from developed areas to flow into poor areas with market approaches, such as public offerings, mergers and acquisitions, to promote poverty alleviation.

A total of 13 enterprises had realized IPOs through a "green passage" policy, having raised funds worth 7.4 billion yuan ($1.05 billion), Zhao said.

He also underscored the role of futures market in stabilizing agricultural production, accelerating agricultural modernization and facilitating the market-oriented reform on agricultural product prices.

"The country will maximize the capital market's guiding and driving role in allocating resources, encouraging social capital to participate in the tough battles against poverty," Zhao said.