证券公司的金融控股型模式研究

Financial-Holding Mode of Securities Companies

证券公司的混业经营一直是我国理论界讨论的热点问题之一.随着中国证券市场股权分置改革即将完成以及我国加入WTO后外国金融企业的进入,证券行业的竞争随主体的变化而会产生不同的竞争态势,证券公司的经营模式也会发生变化.从国外经验看,混业经营是国际金融业发展的方向;就实践来看,证券与银行混业经营已经在我国悄然兴起.混业经营模式大致可分为金融控股型和全能银行型2种类型.就目前来看,我国证券公司的有效经营模式应该是金融控股型模式.

Overall management of securities companies has been one of hot issues discussed in domestic theory field. With the ending of non - tradable share reform of China securities market and entering of foreign financial enterpreturrs after the country entering WTO, the competing body will change and different competing situations will come into being. Overall management between securities and industry is the developing trend in foreign financial industry by foreign experiences. There is a mixture between securities and bank industry in management. Overall management mode may approximately fall into two modes：financial -holding and overall -bank. The author thinks that the efficient operating mode should be financial -holding mode.