Fan also said that the watchdog is "actively making efforts" to introduce stock index futures, which market observers expect to debut as early as the first half of this year, the newspaper said.

Elsewhere, Fan was quoted as saying that the regulator will press ahead on a plan to let red-chip companies sell yuan-backed stocks and ultimately allow overseas firms to list on the mainland.

Red-chip enterprises are overseas-incorporated Chinese mainland companies whose shares are traded in Hong Kong.

(Shanghai Daily March 5, 2008)