CSRC to boost Tibet's capital market

China is to support the capital market in Tibet in the long term, the head of China Securities Regulatory Commission (CSRC) told a meeting on Monday.

Xiao Gang, CSRC chair, said the commission will help Tibet's businesses expand through a multi-layer equity market with continued prior handling of initial public offerings (IPOs).

Additional support will be targeted on Tibet's enterprises on a national equity exchange platform for non-listed companies ("New Three Board"), Xiao said.

The commission will help Tibet's businesses issue corporate bonds on the Shanghai and Shenzhen stock exchanges, New Three Board and through securities dealers, Xiao said.

He encouraged private equity to invest in Tibet, especially farming and husbandry, Tibetan medicine and handicrafts.

The CSRC will actively encourage securities, futures and audit institutions to start branches in Tibet to push the expansion and innovation of local counterparts.

Considering the dearth of securities and futures professionals in Tibet, Xiao said, testing sites and times for qualification exams will be increased, and the passing grade lowered for local minority candidates.