(Xinhua)
Updated: 2008-01-23 11:01

BEIJING - China is to launch a growth enterprise board, private equities and stock index futures this year, said a senior official.

"Preparations for the the growth enterprise board and stock index futures have been completed, and we are only waiting for the go-ahead," said Cheng Siwei, vice chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature.

Cheng told a forum on private equity in Beijing that Chinese policy makers have reached a consensus on the necessity of launching the country's own private equities.

Private equities will help suck up the surplus liquidity in the market. They have a role to play in countering acquisition and merger bids from foreign investors, stimulating acquisition and merger among domestic enterprises and even helping such activities by Chinese firms in the international market, he said.