开放条件下私募基金的功能与风险控制

The Function and Risk Control of the Private Fund in An Open Economy

中国加入WTO已满5年,证券市场正面临全面对外开放的严峻考验,在开放条件下,急需有效的市场机制来化解和防范可能出现的金融风险和金融危机。现代市场经济中的证券市场具有自我调节、自我控制风险、提高收益的机制。发展私募基金,能够提供必要的机制来稳定市场,分散和降低市场风险。虽然私募基金自身存在不少风险,因此我们应该创造适合其发展的必要条件,通过一定的制度建设规避私募基金自身的风险,发挥其对市场的积极作用,保护投资者利益。

China has entered into WTO for 5 years, and the China securities market is facing a crucial challenge in the course of all- round opening situation. An effective market mechanism to resolve and prevent financial risks and financial crisis is in bad need in an open economy. The securities market in a market economy can do self- adjustment, self- risk- control, and return enhancement. By developing the private fund, we are able to provide necessary mechanisms, stshilize the market, diversify and reduce market risk, and resolve many problems that are difficult for the market to solve. Although there exist many risks in the private fund itself, we shouldn＇ t be put off easily by a slight risk. Therefore, we ought to prepare the prerequisites suitable for its development, control the risk of private fund though setting regulations and bring its positive role into play to control the risk in the securities market and protect investors＇ benefit.