China eyes world-class investment banks: top securities regulator

2017-06-18 14:10:13 GMT2017-06-18 22:10:13(Beijing Time) Xinhua English

BEIJING, June 18 (Xinhua) -- Rapid development of the capitalmarket is creating opportunities for China to establish world-classinvestment banks with Chinese characteristics and culturalelements, according to the country's top securities regulator.

Official data shows that the country's securities industry hadbeen steadily progressing with capital and total assets more thandoubling in the past five years.

"The figures indicate the industry has played a more importantrole in raising capital, optimizing resource allocation and servingthe real economy and investors," said Liu Shiyu, head of the ChinaSecurities Regulatory Commission, at a securities conference thisweekend.

Liu noted the securities industry should focus on its mainbusiness, actively participate in the implementation of the Beltand Road Initiative, highlight innovation and guard against risksin the pursuit of world-class investment banks. Enditem