构建适应民营经济融资需求的多层次资本市场结构

Constructing Multi-level Capital Market Structure Adaptible to Financing Needs of Non-governmental Economy

民营经济的多元化特征决定了其融资结构的质异性,其发展客观上需要多层次资本市场的支撑。民营经济融资问题不仅要解决量的问题,同时要实现结构的优化。我国目前的银行信贷和主板市场难以成为解决民营经济融资问题的最佳出口,要满足民营经济的融资需求,必须优化资本市场结构,建立创业板市场,发展壮大企业债券市场,建立和规范场外股权交易市场等。

The diversification feature of non - governmental economy determines the distinct nature of its financing structure. The development of non - governmental economy objectively needs a multi - level capital market support. It＇s necessary for the financing of the non - governmental economy not only to solve the problem of quantity, but also to achieve the optimized structure. China＇s current bank credit and the Main Board market can hardly be the best way out for non - governmental economy financing. In order to meeting the financing needs of the non - governmental economy,it＇s necessary to optimize the structure of capital markets, to establish the GEM market, to develop and expand corporate bond markets, and to set up and regulate the over- the -counter equity trading market.