China promotes establishment of off-exchange market

 　　BEIJING, Jan. 12 (Xinhua) -- China will push forward the development of a national off-exchange or over-the-counter (OTC) market to meet growing financing demand of enterprises, a senior securities official said on Saturday.

　　Yao Gang, vice¹ chairman of China Securities Regulatory Commission (CSRC), made the remarks at a seminar here on the country's capital market.

　　China's stock market is now based on bourses, but exchange markets alone can't meet the country's growing financing demand, Yao said.

　　Security regulators will accelerate the establishment of a national OTC market, and lower the threshold of entering the market for enterprises especially small and medium-sized ones, Yao said.

　　In contrast with exchange trading, OTC trading is done directly between two parties without facilities or supervision² of an exchange. The price struck by the two sides is not necessarily made public in an OTC trade.

1 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

2 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。