对证券信用交易的思考

REFLECTING ON CREDIT TRADE OF THE SECURITIES

在成熟的证券市场,信用交易既可以保证市场的资金供给,又可以防止因过多的资金停留在虚拟资本市场而造成实体经济领域的资金短缺,有优化资源配置、推动经济发展的作用;在不成熟的证券市场,信用交易将会进一步加剧市场的波动,使市场的投机成分更浓、风险更大。我国证券市场目前不宜采用信用交易制度。

On the ripe security market,the credit trade can guarantee that the fund on the market is supplied.It can also prevent the fund shortage of the real economy field due to the fact that too much fund stays on the fictitious capital market.It has the function of optimizing resource distribution and promoting the development of economy.On the other hand on the unripe security market,the credit trade will aggravate the fluctuation of the market further.It will make the speculation composition of the market denser and the risk greater.The credit trade system at present.