从股权分置改革谈我国证券市场功能的矫正

Commenting On Disabuse the Function of China Stock Market from the Reform Stock right Splitting

我国的证券市场具有融通资金、配置资源、投资、实现企业转制等多种功能。证券市场的发展在调整与优化经济结构、促进社会主义市场体系的建立和完善、帮助企业经营机制的转换、拓宽储蓄向投资转化的渠道等方面发挥了积极的作用。但由于股权分置,使证券市场的功能定位出现偏差,重融资功能而轻投资功能和优化资源配置功能已影响证券市场的健康发展。股权分置改革将促进我国证券市场功能的完善。

There are all kinds of functions in our stock market, such as accommodating finance﹑allocation resources﹑investment﹑realizing the changing system of business enterprises and so on. The development of stock market has played active part in adjusting and improving economy reformation﹑promoting and improving the foundation of socialist market system﹑helping change the management system of business enterprises﹑widening the way in which saving is changed into investment. Stock right splitting leads to the fault that is function orientation of stock market. Because the function of accommodating finance is taken seriously and that of investment and allocation resources is not, the good development of stock market has been seriously affected. The reform of splitting stock right will improve the functions of our stock market.