论我国开展股票指数期货交易的制约因素及其风险

On the Resricting Factors and the Risks of Chinese Stock Index Futures Trading

我国股市虽经历了十来年的发展 ,但证券法规体系不健全、股票现货市场的规模过于狭小、投资者结构不合理以及证券知识的缺乏等因素制约着股指期货的开展。如果不顾市场客观条件一味急于开办股指期货交易 ,那么对投资者、交易所、国家的巨大风险就在所难免 ,其后果不堪设想。

Although Chinese stock market has been inexistence for almost ten years,its laws and regulations are still not perfect,the scale of the Stock Actual Market is too small,the structure of investors is not reasonalbe and they know little about stocks.All these factors restrict the development of Chinese Stock Index futures.If we start the stock index futures trading so impatiently that we ignore the objective conditions in market,there will be serious risk to the investors,the exchangers and even the whole country.