13 Quotes by Wu Zhiguo

But considering China mainland's scandal-riddled brokerage sector, any concrete move may not come early this year before risk-management rules are finalized while only select brokerages are likely to be included at the initial stage.

It gives brokers a new revenue channel. The program may be expanded to more securities firms but the pace will be slow as authorities want to contain risks.

Merging city banks can allow them to boost product innovations, tighten risk controls and explore business in bigger geographic regions.

The declines were largely due to lack of confidence. Worries over weak corporate governance, brokers' scandals and an equity oversupply weighed on the bourses.

Big parent companies are likely to merge or sell some of their weaker listed arms to cut costs to make sure they can stay alive. Besides, additional assets may be infused in good-quality public firms so they can seek funds for expansion.

Competition is set to intensify. For investors, it's encouraging to see more products, which mean more channels for diversifying investments. But regulators must work out rules to prevent risks.

The rules will not only protect investors' funds but also help regulators better streamline brokerages' businesses.

The move is clearly aimed at protecting small investors. If directors fail to convene a shareholders' meeting when necessary, investors can act on their interests and help make corporate issues transparent.

It's another stimulus the government wants to adopt to invigorate the market by bolstering trading in the long term.