论中国股票市场的国际化

The Internationalization of Chinese Stock Market

20世纪 8 0年代以来 ,国际资本市场一体化的趋势愈来愈明显 ,从而大大改变了各国证券市场的运行方式和运行环境 ,市场之间的波动日益变得“同步化”。显而易见 ,中国股票市场融入其间 ,既可共享国际资本资源、市场管理资源、信息传播资源 ,寻求股票市场获得超常规发展的能量 ,又要受诸如“金融风波”、“黑色星期一”多米诺骨牌联动效应的冲击 ,这就注定要求中国股票市场在这一场“智慧者的角逐”中趋利避害 ,找到最大的发展机会。

Since 1980s,it has been a more and more obvious tendency for international capital market to merge into one.This greatly changed the operation ways and environment of international stock market.Markets at different place fluctuate more and more simultaneously.Obviously,when Chinese stock market merges into international stock market,it can share international capital resource,market management resource,mass media resource,seek for unprecedented development of stock market,at the same time,its aslo assaulted by domino effect such as “financial crisis”and “Black Monday”.Therefore,this situation requires that Chinese stock market heads for benefit and avoids lose,and finds optimal developing opportunity in this“game of mastermind”.