BEIJING, Oct. 19 (Xinhua) -- China's top securities regulator has pledged to continue reforming the financial market, and promote opening-up and innovation to stabilize and boost market confidence.
Private equity funds are encouraged to buy shares of listed companies and participate in mergers and acquisitions of listed companies, Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), told Xinhua Friday.
Liu said the market reform of mergers and acquisitions would be deepened. There will be more payment options and less review time for listed companies, especially those in the high-technology industry, to complete mergers and acquisitions.
The CSRC will advance market opening-up on all fronts by supporting foreign asset management firms in setting up institutions in China.
A slew of measures will be unveiled to encourage the development of private enterprises, said Liu, noting that the quality of listed companies in the Growth Enterprise Market would be improved and financing for private enterprises would be facilitated.
