Achievements

China has world's third largest stock market

(people's daily online)
Updated: 2009-09-01 10:07

Since the beginning of this year, investor confidence in China's stock market has recovered, transactions are becoming more active and market size is now third among global stock markets behind the US and Japan, said Liu Xinhua, vice chairman of the China Securities Regulatory Commission (CSRC) on July 4.

Liu disclosed that the Growth Enterprises Market (GEM) follow-up rules will be formulated and issued in the next couple of months, and a GEM issuance examination organization and issuance examination committee will be set up to ensure the successful launch of GEM and its smooth and steady operation.

Related readings:  Profits for brokers already exceed last year's total  China weighs opening market to foreign stocks  China starts accepting GEM application  Investors rally to bullish market

In the first quarter of this year, the net profit of listed companies increased by 532 percent compared to that of the fourth quarter last year. The net profit of securities companies in the first five months of this year reached 35 billion yuan ($5.12 billion), up 12.5 percent year-on-year. 680 million transactions were concluded on the futures market and valued at 38.3 trillion yuan, up 38 percent and 29.8 percent year-on-year respectively.

The CSRC will focus on protecting investors' legitimate rights and interests to further enhance the construction of basic market systems, actively expand the size of the corporate bond market and steadily accelerate the construction of the futures market.

The CSRC will also further reinforce supervision and law enforcement, strengthen the punishment and intensify the disclosure of legal and regulation violations such as market rigging, insider dealing and benefit transfers.