Melamed also said Chinese futures exchanges have been liquid and well managed, but they are almost completely domestic, isolated from world participation and international competition.

He urged China to allow the participation of foreign firms and traders to strengthen the exchanges and create a more open and efficient capital market.

Addressing concerns on the development of asset securitization after the United States' subprime crisis, Melamed said it is a question of how much.

"In the United States, people went too far, and it is a case of having too much. In China, it is too little, and it is the other way around," he said.

As to risks people should watch in derivatives development, Melamed said real education is important, as derivatives represent sophisticated financial instruments that require expertise.

The 5th China International Assets Management Conference opened in Hangzhou, capital of east China's Zhejiang province, on Saturday, drawing more than 600 experts and business delegates from the finance circle.