Small investors’ rights need protection
Print Edition
China needs to protect the rights of retail share investors and also to ensure the healthy development of the country’s capital market, the top securities regulator said yesterday.
Writing in the People’s Daily, Xiao Gang, chairman of the China Securities Regulatory Commission, said problems such as “information asymmetry, inadequate return on investment and listed companies’ violation of laws and regulations largely harm the small investors.”
The government needs to protect investors’ rights to access information, improve the decision-making mechanism and shareholders’ voting at listed companies, as well as create various channels to solve disputes and improve compensations to small investors, Xiao said.
There are now nearly 90 million retail investors holding accounts in the Shanghai and Shenzhen stock exchanges. Retail investors with less than 500,000 yuan (US$81,966) of investment account for 60 percent of the market trading value, he said.
But the capital market has paid little attention to protect small investors, he wrote.
“We should let the small investors enjoy the bonus from capital market reform.”
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