Western economists have long criticised the mainland's way of developing the stock market as distorting supply and demand by giving priority to state companies. Lin Yixiang also believes that quotas, bureaucratic interference and other command-style management hamper the healthy growth of the market. His ideas, he says, increasingly are shared by others in the industry.
Mr Lin is vice-president of China Securities and managing director of China Securities Research Co, one of the country's largest brokerages.
Last year China Securities had a trading turnover of 450.4 billion yuan, with A-share trading valued at 253.25 billion yuan, ranking first in the mainland. Profits stood at 430 million yuan and net assets reached 1.33 billion yuan. China Securities has 90 offices nationwide and a staff of 3,500.
A native of Zhejiang, Mr Lin spent 10 years in France, five as a student and five working with Groupe Caisse des Depots, one of the country's largest financial conglomerates, before returning home in 1994.
He has written many books and articles on finance and the stock market. Mr Lin spoke to China Business Review from the company's new 200 million yuan, eight-storey office block, overlooking Workers Stadium in northeast Beijing.
CBR: How will the proposed Securities Law benefit the stock market? Lin: We all hope it will be passed. But people have said that for a long time and it has not yet been done. Whether it really will be (passed) this time, I'm not sure.