Innovation to take on big role for bourse
By Wang Yanlin |
January 12, 2010, Tuesday
|
Print Edition
Print Edition
INNOVATION in products and services is a major task for the Shanghai Stock Exchange this year and the bourse will spend as much effort to enhance risk management as it boosts innovation, its President Zhang Yujun said yesterday.
"China has accelerated innovation in equity markets since last year, and it will be a priority to further develop new products and services this year," Zhang said at a forum organized by the Global Interdependence Center at Fudan University.
He said the exchange will launch a series of indices in the coming months that will measure the performance of domestic and global markets and to facilitate the launch of the planned stock-index futures and margin trading.
China announced last Friday that the two trading tools will be given a trial run. It will take about three months to complete preparations for their long-awaited launch.
The changes will help investors to hedge market risks and boost liquidity, and propel Shanghai to become a global financial center.
Zhang said the bourse updated its trading system last year to prepare for a possible surge in trading after the launch of index futures and margin trading, as well as the planned international board.
China will continue to encourage initial public offerings by companies in military production, culture, railway, grid and nuclear power industries this year, Zhang said.
John Silvia, chief economist at Wachovia/Wells Fargo and a GIC board member, said the world has overcome the worst recession in half a century with consumption and housing markets stabilizing in many countries. But investors should "stay close to shore as the year has many risks for those who choose to head far out to sea."
"China has accelerated innovation in equity markets since last year, and it will be a priority to further develop new products and services this year," Zhang said at a forum organized by the Global Interdependence Center at Fudan University.
He said the exchange will launch a series of indices in the coming months that will measure the performance of domestic and global markets and to facilitate the launch of the planned stock-index futures and margin trading.
China announced last Friday that the two trading tools will be given a trial run. It will take about three months to complete preparations for their long-awaited launch.
The changes will help investors to hedge market risks and boost liquidity, and propel Shanghai to become a global financial center.
Zhang said the bourse updated its trading system last year to prepare for a possible surge in trading after the launch of index futures and margin trading, as well as the planned international board.
China will continue to encourage initial public offerings by companies in military production, culture, railway, grid and nuclear power industries this year, Zhang said.
John Silvia, chief economist at Wachovia/Wells Fargo and a GIC board member, said the world has overcome the worst recession in half a century with consumption and housing markets stabilizing in many countries. But investors should "stay close to shore as the year has many risks for those who choose to head far out to sea."
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