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According to Xiao Gang, former #CSRC Chairman and CF40 non-resident senior fellow, #China should develop a #market-oriented, diversified and law-based #financial #service system, which requires efforts in nine aspects:
1. improve standards and rules to support private #firms;
1. improve standards and rules to support private #firms;
2. respect #market rules and enhance #commercial #sustainability of #financial institutions;
3. #reform the existing financial institutions system;
4. accelerate the transformation of #commercial #banks;
5. build a multi-level #capital #market;
3. #reform the existing financial institutions system;
4. accelerate the transformation of #commercial #banks;
5. build a multi-level #capital #market;
