THE Chinese Government should give priority to infrastructural construction and the development of basic industries in the issue of stocks and bonds, according to officials in the State Planning Commission. Addressing an international seminar in Beijing, Zhang Dongsheng and Wang Di, officials at the commission, said that the government had drawn up a programme for policies governing the development of various industries in the 1990s. They proposed that the role of the securities market be brought into full play in absorbing domestic and overseas funds to facilitate the implementation of the policies. The programme focused on strengthening the farming sector as the foundation of China's economy, promoting the growth of the rural economy, reinforcing basic industries, and speeding up the growth of pillar industries, hi-tech industries and the service sector. The officials said to become mature, China's stock market must take the path of opening to the rest of the world and be in tune with the global market, according to Xinhua (the New China News Agency). As a rising capital market and a major component of the socialist market economy now being created, the country's securities market should absorb not only domestic funds, but also large amounts of overseas funds, they said. The inflow of foreign funds should be compatible with the government's policies concerning the development of various industries.