Li, a deputy to the National People's Congress, China's top legislature, said that the treasury bond market has a few varieties, with a huge market sold to banks, making it difficult for the general public to buy such bonds.

�This is a sign of the imperfect capital market,� he noted.

He called for vigorous efforts to expand the enterprises� bond market because enterprises can raise funds not by issuing stocks only. �Efficient enterprises can also raise funds by issuing bonds, but a few enterprises do so now� he said.

In Li�s view, investors, especially individual ones, are greatly interested in enterprise bonds.

He called attention to the fact that China has too few investment funds and lacks institutional investors.

�From this we can see that a great deal can be done in expanding the capital market including the treasury bond market, the enterprise bond market and investments,�

(Xinhua News Agency March 12, 2002)