China's securities regulator plans to establish a nationwide over-the-counter (OTC) market with a unified regulatory framework and standards, China Securities Journal reported Monday.
The China Securities Regulatory Commission (CSRC) has sent a team to conduct field research on China's property rights trading market. The team visited the Zhejiang Property Rights Exchange in September and the Shenzhen United Property Rights Exchange on October 19.
Statistics show that China currently has 120,000 share-holding companies, of which only about 2,000 are publicly listed. The CSRC is planning to build up the OTC market to meet the demand for capital from the country's private companies.
China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy