试论我国股票市场的融资功能

On the Financing Function of the Stock Market in Our Country

筹集融通资金是股票市场最原始最基本的功能。我国股市仍处于起步阶段，发展不规范，发育不成熟，其融资功能已大打折扣，甚至因诸多因素制约而未能充分发挥其融资功能。充分发挥我国股市的融资功能，可采取允许国家股、法人股上市流通，扩大股票的发行规模，提高股权融资比重，拓宽股市资金的来源，严格证券市场监管等对策。

The primary function of the stock market is to build up the fund and then finance it. Hotvever, the stock market in our country is still at an early stage, so it is not functioning so well. What is worse, at present, staterun enterprises are restructuring their stock systems and making themselves listed companies, on the other hand, lots of listed companies could find no ways to get their stock alforated, the structure of their stock owership is unusual, and the sourees to build up the fund are limted. Due to the above - mentioned factors, the financing function of the atock market has been awrfully affected, that is to say, its financing capacity and scale have been greatly reduced. This paper tries to analyze the financing status quo and capacity of the stock market in our country, on the base of which, it manages to put forard some suggestions on how to bring the financing function into good play.