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BIZCHINA / News |
China to set up early warning system for financial risks(CRI English)
Updated: 2008-01-14 13:49 China Securities Regulatory Commission says the US sub-prime lending crisis may affect the Chinese capital market. At a financial forum in Beijing over the weekend, Chairman Shang Fulin says that his commission will set up an early warning, control and prevention system for the financial risks. "In a long run, the spreading of sub-prime lending crisis will decrease the external need for the Chinese economic development. It will affect the Chinese exporters and indirectly has impact on the listed companies in relevant sectors. It will also affect the stability of China's capital market." Shang Fulin said his commission will keep an eye on the impact brought by the changing of external environment. He added the commission will "expand the scale of fundraising in the capital market, increase the amount of tradable shares and push forward the listing of large companies and high-quality medium-sized companies." Meanwhile, the government says it will also encourage brokerages to set up direct equity investments and let bigger, better-run securities companies grow and weed out poor ones. |
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