Investment reform plan on the horizon, report says

The China Securities Regulatory Commission will work with other authorities to roll out an action plan of capital market reforms on the front of investment, the China Securities Journal said in a report on Friday.

Efforts will be made to encourage mid to long-term funds into the capital market and promote positive interaction between the capital market and social security funds, pension funds, annuity funds and insurance funds, the report said.

The CSRC, according to the report, will also support leading securities firms developing themselves into "first-class investment banks" that can play a critical role in serving the real economy and maintaining financial stability.

To achieve this goal, the commission is supportive of them engaging in mergers and acquisitions, promoting business innovation and operating as a group.