The China Securities Regulatory Commission (CSRC) announced Monday that its International Advisory Council (IAC) has officially been set up with an approval recently.

According to the information from the CSRC, China's securities watchdog, the IAC is an advisory committee of the CSRC comprising noted scholars. experts, academicians, and professionals from international financial institutions as well as from Hong Kong and Taiwan regions.

The Chairman of IAC is Shang Fulin, who also chairs the CSRC, and the Vice Chairman is Laura Cha (Shi Meilun), who is the CSRC's only vice chairwoman.

The current members of the IAC are: Alan Cameron, Sir Howard Davis, Linin Day, Stanley Fischer, Gary Lynch, Anthony Neoh, Luigi Spaventa, John Thornton, Jack Wadsworth, and George Wittich.

IAC members appointed by the CSRC would serve a term of two years, the CSRC said in a press release, adding that IAC would convene one to two meetings a year, and may use other means to solicit views from members.

The CSRC spokesman said the establishment of the IAC was expected to further strengthen the relationship of the CSRC with the international financial communities and widen its channel of communication and the exchange of views with international experts, underscoring that the establishment would also help enhance the understanding on the experience and growth of the international bond markets, so as to promote the reform, opening-up and standardizing process of China's securities market.

(Xinhua News Agency June 22, 2004)