开放经济条件下中国证券市场整合研究

On the integration of China's security markets under the open economy

中国证券市场存在严重的分割问题。适应金融市场国际化、一体化趋势 ,以及证券市场自身发展的需要 ,对证券市场进行业务整合、机构合并 ,以建立全国性统一的中央登记清算结算体系和统一开放的、有效率的证券市场 ;同时 ,加强大陆证券市场与香港证券市场的联合 ,这是一种必然的发展趋势。

There long exists a serious problem of market isolation in Chinas security markets.With the internationalization and unification of the financial markets,and for the sake of the development of security markets,there is a need for a market integrated in the scope of business and institution,which pave the way for a united central clearing&settlement system and an open efficient security market.At the same time,the cooperation,even integration of the security markets in Mainland and HongKong is an unavoidable development trend.