Chinese companies' financing costs are rising. Some financial experts said they should sell corporate bonds directly to residents and companies rather than to financial institutions.

"To support the real economy, China should restructure its financial system," Wang Guogang, director of the Institute of Finance and Banking at the Chinese Academy of Social Sciences, said. "Only by allowing residents and companies to hold corporate bonds can lenders effectively manage corporate capital and make plans for companies' assets and increase property income at the same time."

Wang spoke at a monthly economic forum held by the China Center for International Economic Exchanges on Wednesday.