Shanghai ensuring safety running of stock market

According to <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Shanghai stock regulator's meeting on March 1, Tu Guangshao, deputy mayor of Shanghai, indicates there exists both challenges and opportunities for the city in 2010 to build up the global finance center. Shanghai securities regulator Zhang Ning stresses to handle well the launched index futures and margin business, ensuring the safety of its running.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Tu says in the financial center building, we’d try our best to parallel the relation amid long term targets and near term aims and that in overall planning and specified exertion in this field. It ought to expand the proportion of direct financing to enforce the market functions, and promote innovation to enhance competitions among the operators, so as to stabilize the market in good service, regulated rules and effective management of risks.

While Zhang Ning stresses to be open-minded following the general interest and in sense of risks, making great effort in the promotion of index futures and margin business.  The unequal competition and irregular trading should be confined in its source to raise the quality of the listed firms. Capital market is obliged to play its function in the service for the shift of economic form and the development transfer, to be strict in smashing all kinds of illegal activities for stabled market backdrop. He also calls for the markets at all level to be persistent for innovation and development, abide by the principle of good faith, take upon social liability as to make more contributes in the construction of Shanghai International Finance Centre.