我国股票市场的自我规制、政府规制及其特殊性

Self-regulation, Government Regulation and Particularity of Chinese Stock Market

在西方发达国家。股票市场的政府规制呈现出不断强化的趋势。然而，在系统研究西方学者关于股票市场规制及其发展轨迹后发现，我国转型经济的特殊性，决定了我国股票市场规制的演化路径不能因循西方发达国家强化规制的趋势，而应通过改革不断放松规制，将政府手中过于集中的规制资源坚定不移地下放给市场和交易所等自我规制组织，建立起我国股票市场政府规制和自我规制的良性互动局面，共同推动我国股票市场的规范和发展。

In western developed countries, there is a strong trend to strengthen the government regulation and supervision of the stock market frequently. Researching opinions of western scholars about regulation and supervision history of stock market, it＇s found that, owing to the unique transitional economy background, the proper way of China stock market regulatory system shoud not follow western developed countries, but deregulate continuously by reform. The government should liberate itself from the current excessive regulation system in the stock market, and empower most of the market regulatory function to the exchanges which act as a self-regulation organization, and form the well-coordinated situation between the government and the self-regulation organizations to push forward the development and regularity of China＇s stock market.