中国证券市场发育的问题与对策

The First Growth of China's Securities Market: Existing Problems and Gountermeasures to Be Taken

本文在肯定中国证券市场发育成绩的基础上，指出其尚存在规范化程度低、市场作用扭曲及市场的分割性、封锁性和不平衡性等问题，并在分析了阻滞证券市场发育的两大宏观因素的同时，提出转变政府职能、规范市场规则、对计划调节加以制度创新和以培育债券市场为主积极发展股市等相应对策。

This paper, while affirming the achievements of China's securities market in its first growth, points out that there exist such problems as low degree of standardization, distorted market forces, market separatism, and blockade and imbalance, and goes on to analyze the two macrofactors that stunt the growth of the securities market. Correspondingly, this paper puts forward such countermeasures as a change in functions of governmental departments related, a higher standardization of the rules for securities marketing, the creation of a new system for planned regulation, the nurture of Chinal's securities market, and an active development of the stock market.