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BEIJING - China's capital market faces three problems namely marketization, market structure and cultural factors, a senior official with China Securities Regulatory Commission (CSRC) has said.
Marketization should be promoted as the country's stock exchanges still lag behind global ones in terms of marketization, said Qi Bin, director of the CSRC research center.
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The third factor should be cultural ones, Qi said.
Take the international turnover rate for example, the global turnover rate was 100 percent in 2007, namely investors changed stocks once a year, the figure was 200 percent in the Republic of Korea and 927 percent in China, Qi said.
Liquidity is necessary for stocks markets, but excessive liquidity is dangerous, Qi said.
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