The Passion and Rationality of Capital

Author: Zhong Ying
Publisher:
Publish Date: 2003-01-01
Features: A comprehensive work explaining the Chinese securities market. Equity issuance and stock trading, a glimpse of major illegal and regulatory-violating securities events, equity incentive mechanisms, including MBO, ESOP, and ESO. Market restructuring and investment concept transformation during the transition period of the stock market. This book elaborates on the historical development of the Chinese securities market over the past decade, from its emergence and growth to gradual normalization, showcasing the evolution of the market from enthusiasm to rationality. It systematically constructs a research framework for the development of the securities market, including stocks, bonds, funds, and futures loans, and analyzes key, hot, and cutting-edge issues in the Chinese securities market from the perspective of current realities and future development, in line with the spirit of the 16th National Congress. It helps readers gain a relatively comprehensive understanding and grasp the basic situation and development trends of the Chinese securities market. The objective of this book is to present the truth without bias—the development process of the securities market since the reform and opening-up, from nonexistence to existence, from small to large, from non-standardized and immature to gradually mature. Historical facts demonstrate that the Chinese securities market, emerging in the 1990s, is an inevitable result of the deepening reform and opening-up, a necessary requirement for the construction of socialism with Chinese characteristics, and a natural product of the socialist market economy system. It has played and continues to play a positive role in the rational allocation of resources, the mobilization of construction funds, and the optimization of corporate management mechanisms. Of course, like all new things, the contemporary Chinese securities market still has many imperfections. But it is certain that under the guidance of the spirit of the recently concluded 16th National Congress, the Chinese capital market, with the securities market as its core, will definitely have a brighter future and achieve healthier development.