The Stock Exchange Executive Council (SEEC; Chinese: 中国证券市场研究设计中心) of the People's Republic of China was established to improve the efficiency of the securities market in mainland China. According to research by Nottle (1993), the re-emergence of securities markets commenced under the introduction of the economic reform programme. The initiative was announced by then party Vice Premier Deng Xiaoping in 1978; under the plan market forces would be brought to bear on the Chinese economy and China's "doors would be opened" to foreign capital and entrepreneurs.