2015年CRI 中国深化资本市场改革以便更好地服务实体经济

 

The announcement was made by China's top securities regulator at Lujiazui Forum¹ 2015 that opened Friday in Shanghai.

Government officials, economists² and corporate³ executives gathered at the two-day forum to provide advice for the country's financial sector⁴.

Xiao Gang, chairman of the China Securities Regulatory Commission or CSRC, points out that the country's capital market reform will focus on building a multi-level market system.

"We will open a capital-raising pilot with crowd funding model in order to offer new equity⁵ financing channels for innovating⁶ businesses. We will further push the growth of private market to offer more capital for them. The venture investment mechanism⁷ will be improved by expanding venture capital and angel investment, to attract more private capital to flow into the field of technology and innovation."

To achieve the goal, Xiao says that securities industry will also reinforce innovation on products, services and business models.

Currently, the country has about five hundred companies listed on ChiNext, China's Nasdaq-style board, aiming to attract innovative⁸ and fast-growing enterprises.

High technology enterprises account for 90 percent of all the ChiNext listed companies.

However, according to Xiao, the country's capital market is not competent enough to serve innovative and high-tech⁹ businesses.

"The current capital market system is not capable enough to serve China's 15 million medium and small size enterprises, with limited coverage¹⁰. The venture capital system is not perfect enough, and it's still difficult for start-ups to obtain financing due to lack of angel investment and venture investment. Moreover, better legal system and stock equity culture are badly in need to make the capital market play better role in serving high technology and innovating enterprises."

Usually social capital is reluctant to invest on start-up companies due to their high risks and more uncertainties¹¹.

However, under the multiple-tiered capital market, Xiao says the boost of venture investment will definitely be a very good solution.

"Innovating businesses in the early stages usually have small capital funds, with features of high risk and high investment. The development of venture investment like Angel capital can remedy the limitations of traditional bank financing and create more new jobs."

CSRC also vows¹² to further diversify¹³, and provide tailored products and services to support the growth of startups in technology and strategic industries.

Increasing the convertibility¹⁴ of the Chinese currency, and to further raise the status of the yuan on the global market are also among the many topics at the forum.

First launched in 2008, Lujiazui Forum is a top level platform to solicit¹⁵ suggestions for China's finance sector and Shanghai's construction into a global financial center.

For CRI, I'm Wang Wei.

1 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

2 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

3 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

4 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

5 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

6 innovating   

v.改革，创新( innovate的现在分词 )；引入（新事物、思想或方法），

参考例句：

• In this new century, the company keeps innovating and developing new products. 新世纪伊始，公司全面实施形象工程及整合营销，不断改革创新，开发高新产品。 来自互联网
• Beijing is backward most prime cause is innovating at system lack. 北京落后的最根本原因在于制度缺乏创新。 来自互联网

7 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

8 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。

9 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。

10 coverage   

n.报导，保险范围，保险额，范围，覆盖

参考例句：

• There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
• This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。

11 uncertainties   

无把握( uncertainty的名词复数 )； 不确定； 变化不定； 无把握、不确定的事物

参考例句：

• One of the uncertainties of military duty is that you never know when you might suddenly get posted away. 任军职不稳定的因素之一是你永远不知道什么时候会突然被派往它处。
• Uncertainties affecting peace and development are on the rise. 影响和平与发展的不确定因素在增加。 来自汉英非文学 - 十六大报告

12 vows   

誓言( vow的名词复数 )； 郑重宣布，许愿

参考例句：

• Matrimonial vows are to show the faithfulness of the new couple. 婚誓体现了新婚夫妇对婚姻的忠诚。
• The nun took strait vows. 那位修女立下严格的誓愿。

13 diversify   

v.（使）不同，（使）变得多样化

参考例句：

• Our company is trying to diversify.我们公司正力图往多样化方面发展。
• Hills and woods diversify the landscape.山陵和树木点缀景色。

14 convertibility   

n.可改变性，可变化性；兑换

参考例句：

• Some countermeasure and recommendation on RMB's full convertibility. " 对人民币实现完全自由兑换提出了对策和建议。 来自互联网
• China capital convertibility's course is the same as foreign exchange system reform. 中国资本项目开放的进程，是与我国外汇体制改革的步伐相一致的。 来自互联网

15 solicit   

vi.勾引；乞求；vt.请求，乞求；招揽(生意)

参考例句：

• Beggars are not allowed to solicit in public places.乞丐不得在公共场所乞讨。
• We should often solicit opinions from the masses.我们应该经常征求群众意见。