Deep problems in China's capital market

Author: Wang Guogang
Publisher:
Publish Date: 2004-06-01
Features: This book offers in-depth research on the deep-seated issues in the development of China's capital market. The first part focuses on the reform of China's capital market system, while the second part explores the hot issues in the current development of the Chinese capital market. Among them, the author's viewpoints are highly innovative. These include the idea that under Chinese conditions, "standardization" has two different standards—planned economy standardization and market economy standardization; the perspective of extending the vision of "protecting investor rights" and implementing the "principle of fairness, transparency, and accountability" from existing market participants to those who have not yet entered the market; the view that risk is a variable that forms alongside development, and without "development," risk control loses its intrinsic meaning; the observation that since the establishment of the stock market, as the market size has expanded, administrative control has also simultaneously strengthened; and the argument that under the "vertical management" system, the lack of coordination among administrative regulations and the inefficiencies caused by coordination issues among different administrative authorities have increased the overall risk of the financial system. Therefore, this book plays an indispensable role both theoretically and in advancing the development of the capital market.