China's stock market is still rising strongly, but some are concerned about whether it is developing in a healthy way. Investment is normally based on long periods of time, so it's irrational for so many investors to expect to earn profits during a short period of time in the stock market.

In my opinion, the authorities should educate institutional investors as well as brokerages in China about the importance of correct practice.

Many State-owned financial institutions only care about earning money in the market in a short-term way, and don't take the national interest as their priority.

For instance, in January, CITIC Securities Co, Haitong Securities Co and Guotai Junan Securities Co were punished by the China Securities Regulatory Commission (CSRC) for allowing customers to delay margin finance repayments for longer than they were supposed to, according to media reports. These securities companies chose to delay the repayment time in order to attract more customers and earn more money, even though they knew about the potential risks.

The CSRC and the Securities Association of China need to cooperate and take the responsibility to educate these financial institutions about the need to operate properly, instead of prioritizing earning large amounts of money in potentially risky ways.

Instability in the stock market would be dangerous for the whole of the Chinese economy, as well as investors.

The author is Niu Wenxin, a media personality.

Investment Express