中国资本市场未来10年发展的战略目标与政策重心

China's Capital Market in Next 10 Years: Strategic Goal and Policy Focus

经过20年的改革和发展,中国资本市场在规模、结构、功能和对经济社会的影响力等方面都发生了根本性变化,已经成为全球第二大市值的市场,在中国经济社会发展中发挥着不可替代的与日俱增的重要作用。中国资本市场未来发展面临的市场结构因素和经济金融环境发生了重大变化。未来10年(2011—2020)中国资本市场发展的战略目标是:到2020年,以上海—深圳资本市场为轴心的中国资本市场将成为全球最具影响力的金融市场增长极,并将上海建设成为全球新的国际金融中心,以此为基础全面推动中国金融体系的现代化、市场化和国际化。为了实现上述战略目标,中国资本市场的政策重心会发生重大调整,将从以需求政策为主向供需协调发展的政策组合转变。

After 20 years＇ reform and development, China＇s capital market has changed fundamentally from not only size, structure and functions, but also from aspects like economic and social influence. It has already become a market with second-largest market value in the world. Generally speaking, future developments of China＇s capital market will face huge changes from both the market structure factor and the economical financial environment. The macroeconomic and financial structure reform trend, the strategic goal of China＇s capital market in next 10 years （2011-2020） is： when in 2020, China＇s capital market, with that trading centers based on Shanghai-Shenzhen, will become worlds＇ most influ- ential growth pole of financial markets, and Shanghai will also be built into a new international financial center, comprehensively promoting the modernization, marketization and globalization of China＇s financial system. In order to achieve above strategic goal, significant adjustments on policy focus of China＇s capital market will take place, which will change from a demand-oriented policy to a combination of supply-oriented, demand-supply coordinate developing policy.