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China has potential to speed up capital market development: expert

Updated: Mar 23,2017 9:28 AM     Xinhua

HONG KONG — China has potential to develop a deeper, more liquid capital market with greater choice of investment products, Mark Austen, the CEO of the Asia Securities Industry and Financial Markets Association (ASIFMA) said here on March 22.

The ASIFMA released a report — China’s Capital Markets: Navigating the Road Ahead, providing recommendations on major asset classes on how to enable continued strong growth.

The likely end to a low-interest rate environment globally will lead to a more capital-constrained environment for developing markets, Austen told a press meeting.

China’s capital market has developed at a pace that has few parallels in history, Austen said, adding the country is showing a promising willingness to improve investor access, expanding opportunities for domestic and foreign investors.

China has the potential to accelerate reform program for capital market development, based on the successful approach of utilizing experiments and pilot programs test cases for reform, he said.

“We believe that with right reforms, China has an opportunity to learn from the experience of developed markets, avoid mistakes and leapfrog for their successes,” Austen said.

Based in Hong Kong, ASIFMA is an independent, regional trade association with 100-odd-member firms including banks, asset managers and market infrastructure service providers.