[Ferro-alloys.com]Chinese securities companies can develop businesses largely in private capital market, said Wu Xiaoling, vice-chairwoman of the financial and economic committee of the National People's Congress on Friday.

Wu said private capital market directly offers enterprises services and provide fundraisers with many financing instruments of bond, equity and collective investment plans to find professional investors.

Wu added that regulations should be separated in China to set up a multi-level capital market.

"Regulation on the issuance, transferring and trading of securities in public market and that in private market should be different," said Wu.

Wu added that groups of investors should be divided by their experiences and risk resistance capabilities, and professional ones can have fewer restrictions on investing.

• [Editor:Mike.zhang]