The problem and countermeasure of the development of China's securities market

刘劲松

Abstract： With the continuous development of China's securities market， the development of the domestic securities market has become increasingly serious. The securities market plays a decisive role in promoting economic development， promoting reform， adjusting industrial structure and broadening investment channels. However， the market development is not perfect， the regulatory system is not reasonable， the serious lack of macro-control， the governance structure of listed companies is not rigorous， and lack of relevant communication mechanisms. Therefore， based on the current situation of the development of the domestic securities market， this paper discusses the problems and countermeasures.

Keywords： securities market， development， status quo， problems， countermeasures

1.The current situation of China's securities market

Since China's reform and opening up， the social economy is constantly developing and changing， and the development of the domestic securities market is also changing. 1 Since 980， companies in Beijing， Shanghai and other places have been issuing stocks and corporate bonds， starting projects related to securities issuance. Following the approval of the central authorities ， the stock exchanges were established in Shanghai and Shenzhen ， making great contributions to the development of China's economic construction .

2.The development of China's securities market

First of all， from the main structure of Listed Companies in China， mainly by the state-owned or state-owned holding companies， the two parts of the combination， and China's economic reform of the most dynamic private and commercial operators are non-state-owned companies. Obviously， this is not in line with the position and role of the private economy in China's Hui economy， to some extent hindering the development of the domestic securities market. If there is a reason for the initial establishment of China's securities market and its experimental nature， then the securities market is an indispensable capital market in China， and its profound impact on the country's economic and social life is no longer a summary of the "pilot".

3.Countermeasures to the development of China's securities market

In order to make China's securities market develop healthily and steadily， it is necessary to reduce the proportion of state-owned shares in the securities market and let state-owned shares and corporate shares enter the market as planned. Based on long-term development， the ultimate goal issued by the state and legal persons can be fully integrated with the public shares and fully understand the various aspects of the rights process. From the point of view of market correlation and investor protection， the basis of segmentation should be maintained unchanged， and it is necessary to proceed from the interests of all parties.

（北京工商大學嘉华学院 北京 101118）