对新经济与新股市的思考

A Study on the New Economy and the New Stock Market

主要从新经济、新股市的基本概念、特点分析入手 ,概述了新股市对新经济推动作用主要是 :集聚社会资金 ,促进高科技企业的发展和风险投资资金的发展 ,强化企业制度创新 ,促进企业人才激励约束机制的建立 ,反映高科技企业的运行态势为政府制定经济政策提供晴雨表 ,对新股市出现的股价大幅波动、机构投资者在新股市中占主导地位、众多企业摘牌退市、向市场化方向发展、政府间接调控市场力度加强等现象进行了初步分析 ,并对拟设立的境内创业板市场提出一些借鉴性意见和建议。

Based on an analysis of the basic concepts and characteristics of new economy and new stock market,the paper summarizes the new stock market`s contribution to the new economy as follows:taking in public funds,promoting the growth of hi_tech enterprises and VCs,spurring enterprises` institutional innovation,gearing up the establishment of talent incentive and restraint mechanism,reflecting the development of hi_tech enterprises,and providing barometer for government economic policies.The author also discusses phenomena of the new stock market,such as dramatic fluctuation of stock price,the domination of organization investors,the forced remove of many companies,the marketization ,the strengthening of government indirect regulation,etc.finally,this paper puts forward some suggestions as to the establishment of GEM in china.