提升直接融资比例目标下的资本市场体系优化探析

On the Optimization of Capital Market System under the Goal of Increasing the Proportion of Direct Financing

中国资本市场起源于上世纪90年代初上交所与深交所的开立,2022年,是中国资本市场成立以来的第32个年头,在党中央的领导下,中国资本市场逐渐担起重担,日趋成熟,为中国经济腾飞作强有力的支持。如今中国经济增速放缓,而中国目前资本市场体系仍存在许多改进之处,寻求更优的资本市场体系已迫在眉睫。本文将立足于时代的背景,以促进提升直接融资比例为目标,探析中国多层次资本市场的优化改革方向。通过30年来中国资本市场发展的历史回顾以及现状,例举多种数据,分析提升直接融资的动因并发掘中国多层次资本市场存在的问题及原因,同时对发达国家市场的经验进行借鉴,深入探究并给出完善中国多层次资本市场体系的总思路与具体建议。

China's capital market originated from the opening of Shanghai Stock Exchange and Shenzhen Stock Exchange in the early 1990s.2022 is the 32nd year since the establishment of China's capital market.Under the leadership of the Party Central Committee,China's capital market has gradually shouldered the burden and become more and more mature,providing strong support for China's economic take-off.Nowadays,China's economic growth is slowing down,and there are still many improvements in China's current capital market system.It is urgent to seek a better capital market system.This paper will be based on the background of the times,with the goal of promoting the proportion of direct financing,to explore the optimization and reform direction of China's multi-level capital market.Based on the historical review and current situation of the development of China's capital market in the past 30 years,this paper cites a variety of data to analyze the reasons for promoting direct financing and explore the problems and reasons existing in China's multi-level capital market.At the same time,it uses the experience of developed countries for reference,deeply explores and gives general ideas and specific suggestions for improving China's multi-level capital market system.