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Stock bourse listing can accelerate reform and opening up

SHANGHAI'S rise as a financial hub plays a key role in China's opening up and the listing of the Shanghai Stock Exchange can accelerate progress, said a key banking regulatory advisor.

"The stock bourse plays a key role in helping Shanghai stably enter the global stage and international experience shows that transferring bourses into corporations is a global trend," said Andrew Sheng, chief advisor of the China Banking Regulatory Commission.

Since 2000, it's been a global trend for big bourses to merge and list, or run as corporations.

Since then, bourses in Hong Kong, Singapore and Australia went public.

The Shanghai Stock Exchange, among the top five stock bourses in the world in terms of turnover, can also learn from these experiences and follow suit, Sheng said.

The Shanghai Stock Exchange can make a tighter link, or even ally with bourses in Hong Kong and Shenzhen.

The financial industry should better serve the development of the real economy and that can't be achieved with an oversized banking industry and a weak and fledgling capital market.

The capital market can help companies raise funds and trim risk. Running stock bourses as listed companies can improve the capital market, said Sheng.


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