Capital Markets of China: An Analysis Based on Competition Theory

Author: Xie Shujiang
Publisher:
Publish Date: 2005-11-01
Features: This book expands the application scope of competition theory, establishes a theoretical framework for competitive analysis in capital markets, and applies competition theory to conduct a comprehensive and systematic analysis of China's capital market. On this basis, it proposes competitive policy recommendations to promote the development of China's capital market. The book is divided into three parts:
Part 1 includes Chapters 1 and 2. First, it briefly outlines the evolution of competition theory and offers critiques of some theories. Then, it examines the relationship between competition, regulation, and capital markets, highlighting why people tend to overemphasize regulatory issues in capital markets and arguing the importance of ensuring effective, fair, and orderly competition in capital markets.
Part 2 includes Chapters 3 to 6. First, it applies industrial organization theory to analyze the market structure, behavior, and performance of China's securities and fund industries. Then, it studies the competitive restrictions caused by the institutional structure of China's capital market. Finally, it analyzes the harm caused to the competitive mechanism by unfair competitive practices in China's capital market.
Part 3 is Chapter 7. It sets the target model for China's capital market competition policy, determines the composition and selection of competition policy, and proposes measures such as establishing a multi-tiered capital market system and reforming issuance and trading systems to guide China's capital market competition policy toward the target model.