Research on Establishing a Multi-Level Capital Market System

Author: Wang Guogang
Publisher:
Publish Date: 2006-10-01
Features: This book proposes the division of the stock market into multiple layers based on trading rules, as the trading rules are primarily formulated by brokers. Therefore, a new layer of stock market led by brokers should be established. It analyzes the theoretical foundation of the equity separation reform, emphasizing that the public nature of the stock market is the policy basis for the reform. It explores the development history and lessons learned of China's over-the-counter market, the operational mechanism flaws and reform directions of the A-share market. It studies the trends and pricing mechanisms of China's bond market and provides a brief introduction to the securities market structures of major developed countries.