中国证券市场风险的防范与化解

Prevention and Resolution of Chinese Stock Market

作为一个幼稚产业 ,中国证券业存在着先天不足 ,上市公司非流通股比例过高 ,“一股独大”、产权主体虚置、机构投资者比重太低等等。而法律法规不完善、政策透明度低且缺乏连续性、监管手段滞后、投资者专业知识缺乏又导致黑庄横行、道德风险严重。要改变这种局面 ,只有实行法治 ,通过法制建设形成制衡机制、通过优化监管保证市场有序、通过加强教育重树诚信理念才能实现。

Being a young industry, Chinese stock market has such problems as congenial deficiency, high proportion of the non-circulated negotiable securities, low investments from the organization. All these, that is imperfect laws and regulations, insufficient open policies with poor coherence, backward controlling methods and lack of professional knowledge, lead to black stock market and serious risk of morality. Only when the law is practised can this circumstance be changed.