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Rapid development Patriots Rob Gronkowski Jersey , illegal operations behind changes: experts





A clerk counts yuan banknotes at a bank in Ganyu county, East China's Jiangsu Province. File photo: IC






After China's major financial regulators announced recently a tightening of their management grip on the domestic financial market through measures such as suppressing certain business by securities firms and repressing stock speculation, experts said Tuesday that the rapidly growing financial market in China is forcing them to change their traditional management model.

Li Chao, vice chairman of the China Securities Regulatory Commission (CSRC), said during a recent meeting that the CSRC would no longer tolerate illegal operations on capital markets, media reported on Tuesday.

"We used to be lenient about violations Jordan Richards Color Rush Jersey , but from now on we won't pull any punches," Li was quoted as saying in the report.

The China Banking Regulatory Commission (CBRC) and the China Insurance Regulatory Commission (CIRC) both noted on Tuesday that they would tighten supervision over domestic financial markets.

The financial regulators are tightening management in an effort to protect the investors' interests, Li Daxiao, chief economist at Shenzhen-based Yingda Securities, told the Global Times on Tuesday.

Tightening control

Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology Malcom Brown Color Rush Jersey , said China's financial market has developed rapidly since 2013, which has caught regulators unprepared.

"The most fundamental changes are the rise of the private market and buyouts. The former has given rise to complicated new assets management businesses and products, while the latter often involves leveraged trading," Dong told the Global Times on Tuesday.

This sudden development, replete with risks, has exceeded the expectations and even the management capacities of domestic regulators Joe Thuney Color Rush Jersey , inducing them to work out new measures to reverse the awkward situation, according to Dong.

Li, the CSRC vice chairman, noted that some financial institutions have designed "complicated, un-transparent" products to take advantage of policy loopholes, according to media reports.

Illegal operations "exist" in domestic financial markets Deatrich Wise Jr. Color Rush Jersey , said Li, the chief economist at Yingda Securities.

The phenomenon has caused financial regulators to pump up efforts to standardize the markets. For example, the CSRC will gradually discourage securities traders from helping banks invest in areas they normally are not allowed to via the so-called channel business, the CSRC vice chairman said.

An employee at a Shanghai-based securities firm, who refused to be identified, said that such practices are one of the major businesses for securities companies.

"If it is canceled Antonio Garcia Color Rush Jersey , it would impact the profitability of securities firms," the employee s. Cheap Jerseys China Cheap Jerseys China Cheap China Jerseys Cheap Jerseys From China Cheap Wholesale Jerseys Cheap Authentic Jerseys Cheap Jerseys Free Shipping Cheap Custom Jerseys Cheap MLB Jerseys Wholesale Jerseys From China