April 14, 2010 (Chinavestor) This video is a must for China stock investors. S.L. Chen, one of the most influential Chinese on Wall Street, talks about the creation of capital markets in China, about Chinese listed stock on Wall Street among other interesting stories of his own.
"I joined Wall Steet in the early '60s... I was one of the very first Chinese Americans in the business. That's why when China and Taiwan developed their capital markets, I was invited to help."
"Since the early 80's I helped China build up their first securities market. Now, the first secularity market wasn't equity, it was bond, governmental bond. And I was helping People's Bank of China to start the secondary market for the government bond. Prior to that everybody bought the government bond without the secondary market to trade... so I suggested to People's Bank of China to start a secondary market. This was in 1986. So in two years time, they started to trade government bond. That was the first securities market in China. Then in two years later we saw that Shanghai Stock Exchange..."
... "China still needs a lot more of the learning curve. They're still learning. And today a lot of people are interested in Chinese securities. But let me tell you, you have to be very careful in selecting the right company..."
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