突破直接融资市场发展的微观短板

Overcome Microscopic Shortcomings in the Development of Direct Financing Market

直接融资市场的发展对市场微观基础条件的要求很高。营造理想的微观基础环境,对于一个发展中国家的直接融资市场来说,需要持续的改革创新,也需要足够的历史积淀,并非一蹴而就。在金融改革创新的实践中会遇到诸多微观基础条件的制约,需要积极去突破和完善。

The development of direct financing market poses very high requirements on the micro- level basic conditions. To create an ideal environment for a direct financing market in developing countries, it is necessary to have continuous reform and innovation, as well as sufficient accumulation of experience. This, however, does not happen overnight. One needs to take active steps to make breakthrough and overcome restrictions on micro-level basic conditions encountered in the practice of financial reform and innovation.