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Wen: China to ensure stable, sound growth of stock market

(Xinhua)
Updated: 2008-03-31 13:36

The Chinese government will make efforts to promote the stable and sound development of its stock market, Chinese Premier Wen Jiabao said in Vientiane last Sunday.

A healthy and sustainable capital market will ultimately be conducive to China's economic development, Wen told reporter during his visit in Laos where he will attend the Third Greater Mekong Subregion Summit.

He said the government has two major responsibilities. One is to maintain stable and fairly quick economic development without sharp fluctuations, and concentrate on solving the outstanding problems in economic life. The other is to establish, through legal means, an open, fair and transparent market environment so as to protect the interests of investors and small shareholder.

Wen said that despite some difficulties that lie ahead, "the fundamentals of China's economy is good."

He said though China's economy would be affected by the U.S. subprime mortgage crisis, the devaluation of dollars, and high oil price, its  "unique advantage"-- its huge market, would help ensure that China's economy will continue to improve.

Wen said that China has formulated policies for its economic  development during the recent annual sessions of the National People's Congress, the country's parliament, and the Chinese People's Political Consultative Conference, the country's top advisory body. He expressed the belief that along with its economic growth, the exiting problems with China's economy will be solved and its stock market will get better and better.