CRI听力: China to Strengthen Assets Evaluation

China says it will strengthen the evaluation work of financial assets and deepen its cooperation and communications with other countries to help sustain the security of global financial markets. Shuang Feng has the details.

Reporter:
The fourth valuers' meetig of the World Association of Valuation Organizations, or WAVO, begins Tuesday in south China's Guangxi Zhuang Autonomous Region. The theme of the conference is "world financial market safety and asset assessment."(www.hXen.com)

Lim Lan Yuan, Chairman of WAVO, says asset evaluation can help uncover the real value of financial assets and keep financial markets safe and stable.

"The world financial crisis has provided opportunities for the whole world to open the active dialogue and share experiences of dealing with the crisis. I hope all the participants can join in the discussion on the relationship between asset evaluation work and the world financial market."

He Bangjing, Chairwoman of the Chinese Association of Asset Evaluation, says the global financial crisis not only indicates how fragile the world financial system is, but also reveals some problems with the current system of asset evaluation.

She says China should heed the warnings and put more effort into asset evaluation work.

"I hope Chinese financial supervisory organizations take advantage of the active effects of asset evaluation in the course of the construction and reformation of the financial industry to improve their capability of preventing risks and keeping financial markets stable."

China now has over 3,000 valuation agencies with more than 30,000 valuers since the country's asset evaluation business started in the 1980s.

He Bangjing also says that China will increase its cooperation with other countries to jointly safeguard the healthy development and security of global financial markets.

Shuang Feng, CRI news.