The top regulator for China’s banking system has called for greater development of the domestic capital market in the second half of 2020.
Guo Shuqing (郭树清), chair of the China Banking and Insurance Regulatory Commission (CBIRC), said it will ensure that the finance sector better supports the real economy in the second half of 2020 in the wake of the COVID-19 pandemic, according to state media reports from 13 August.
To this end China will continue to “further drive the growth of the capital market and the growth of direct financing”
In the first half of 2020 the market share of direct financing rose several percentage points to 36% from 32%.
“We hope that this momentum can continue, and can provide more direct financing to support enterprises,” said Guo.