Analysts said a vibrant bond market could help diversify risks and reduce over-reliance on the fast-expanding banking sector. But a healthy credit rating system and a mature credit culture are vital to expanding the bond market, they said.

Ivan Chung, a senior analyst at Moody's Investor Service, said that "The development of the bond market is a key part in reducing over-reliance on the banking system."

The regulator is also working to further open the securities market to foreign investors by raising the investment quota for Qualified Foreign Institutional Investors (QFII) in the A-share market.

Guo also noted that China needs to accelerate the development and opening of domestic market intermediaries and introduce advanced technology and personnel from developed markets.

Questions:

1. What country do three of the world's top 10 banks come from?

2. How much does the total assets of China's securities industry stand at?

3. How is the regulator working to open the securities market to foreign investors?

Answers:

1. China.

2. 4.7 trillion yuan.

3. By raising the investment quota for Qualified Foreign Institutional Investors in the A-share market.

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