Promoting Reform and Development of Capital Markets

In January 2004 the Government released its long-term strategy to develop the People's Republic of China's capital markets:

• The establishment of a multi-layer capital market system, including the current main board, a proposed second board for venture capital, and markets for corporate bond and futures;
• Improved regulation on the operation and governance of listed companies;
• Assist securities and futures companies by improving administration of other intermediaries such as accounting and law firms; and
• Work to open its capital markets and fulfill WTO commitments in the securities services sector.