The paper quoted Anthony Neoh, chief adviser to the China Securities Regulatory Commission, saying in Hangzhou Monday that the new index will be produced and issued by an independent company.

It will be comprised of 200 to 300 companies from different sectors to reflect the overall situation of the market, he said.

The Shanghai and Shenzhen bourses currently issue their own indices, but there have been calls for a national stock index to reflect changes in both markets.

According to Neoh, the new national index will operate for several months on trial basis before it is considered reliable, upon which new products such as index funds and index futures will be developed.

(People's Daily)