Zhou xiaochuan China capital market still has a big space so that more funds

China Development Forum was officially opened today. Xinhua

People's Bank of China (PBoC) Governor Zhou xiaochuan at the China Development Forum on March 20, full details of the "Thirteen-Five" program for speeding up reform of financial system in three specific content.

For planning platform for in the 66 chapter first section mentioned of "sound commercial financial, and development sex financial, and policy sex financial, and cooperation sex Financial Division reasonable, and mutual added of financial institutions system", Zhou xiaochuan said, China of financial institutions past number than less, varieties also compared less, to rich financial institutions system, "Thirteen-Five" planning platform for in the focuses on mentioned has to development policy sex financial and development institutions, is should global financial crisis of need.

Zhou xiaochuan introduced said, China of three home policy sex institutions: National Development Bank, and China import and export Bank and China Agricultural Development Bank, balance sheet added with probably is 15 trillion yuan, which most is commercial can continued of assets, in commercial financial and public financial Zhijian some business, below commercial returns, and not completely public, that this part business of development not to profit maximize for target, this in China and has special meaning, in transition economic in the has part business commercial do can't, Government funding is not enough, so Thirteen-Five described financial policy.

"Thirteen-Five" mentioned in the plan through the development of the capital market and improve financial systems, he again had to stand.

He said China still has much room for development of the capital market, but also has a lot of work to do. China's high rate of economic levers, particularly business sector GDP proportion of lending ratio is too high. Through capital market development so that more funds for equity investment, reduce dependence on borrowing leverage.

"China's equity market relatively late, low proportion of total financing of capital markets, private equity financing is also relatively weak, since reform and opening up to get rich faster, but less civil than the accumulation of wealth, access to private wealth into equity less, resulting in high rates of borrowing, prone to macro risks, we also attach great importance to. "Mr Zhou said. Central Bank Governor Zhou xiaochuan of Shanghai

For the market is a bit concerned about financial regulatory reform, Mr Zhou also elaborated again.

"Thirteen-Five mentioned in the plan to strengthen financial management of macro-prudential system, shows that China attaches great importance to the lessons of the financial crisis, Central Bank main tube price levels in the past, price is inflation, but that was not enough, so stressed prudent financial macro-management system. "

Zhou said, the financial system, on the one hand to seriously study the lessons of its own, such as the volatility in financial markets last year, some people think the financial regulatory system is not very satisfactory, from which to absorb the lessons, on the international financial regulatory reform has a variety of discussion and practice, are also important to explore.