China's capital market will better serve supply-side reforms

Liu Shiyu, Chairman of China Securities Regulatory Commission (CSRC), attends a news conference on the sidelines of the National People's Congress (NPC) in Beijing, China, March 12, 2016.[Photo/Agencies]

China's securities chief said its capital market will better serve the country's supply-side reforms, China Securities Journal reported on Thursday.

Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), made the remarks during the luncheon party of the board meeting of the World Federation of Exchanges (WFE).

Liu said that during the 13th Five-year Plan period (2016-2020), the capital market will assume a new role and see good development opportunities.

China's capital market will pay more attention to legal system construction, better serve supply-side structure reform and promote the transition and updating of the real economy, Liu said.

Meanwhile, it will take considerable effort to ward off economic and financial risks and safeguard investors' legal rights.

Besides providing market platforms, the more challenge mission of securities exchange is to perform the supervision function, Liu said.

CSRC will fully support the opening-up and international cooperation of Chinese exchanges, which will be beneficial for market supervision and investor protection, he added.

The World Federation of Exchanges was founded in London in 1961 and is a trade association of 64 publicly regulated stock and futures exchanges, including the Shanghai Stock Exchange and five other Chinese exchanges.

The WFE annual meeting, sponsored by Shanghai Stock Exchange, was held in Shanghai on June 21-22.