| In this paper, the relationship between the government and the stock market as the research object to the government macro-control the main line stock from the relationship between the government and the market start, Deep and analysis of the relationship between the government and the stock market, the stock market system that the builders of the government, stock market system builders, the stock market run of the regulators, the corrector of market failure. He said that the stock market is divided into two levels of macro regulation and control that government regulation and government regulation, a clear concept of government regulation and government control, while emphasizing the Government's macro-control for the impact of the stock market and its significance, using empirical analysis, selected in 2007 to in 2008 the Government of China stock market as an example of administrative intervention, combined with technical analysis theory K line were calculated using the Government's supervision and regulation of the stock market, due to the development of China's stock market just two years, so its government macro-control model is not mature, so this comparison domestic and foreign government regulation of the stock market's trajectory, the typical choice of three international models that represented the United States the freedom to control the stock market model to the Hong Kong stock market as represented by appropriate government intervention model to China's stock market as represented by the closed monopolistic control mode. And explore the theory of government behavior and market behavior of the best critical point, in the international market mechanism and macro-control mode of a comparative study based on the proposed China's stock market regulator and Diaokong practical problems that exist, including pots Gaige Houda Xiao Gu Quan non-lifting of the embargo, the fund system is not standard issue, the issue of new shares issuing system, the lack of value of investment in listed companies, institutional issue of manipulating stock prices, stock trading stamp irrational unilateral market issues.In the proposed problem,the column for Hing a perfect policy recommendations of China stock market,including the establishment of market system,reforming the fund management fee accrual system and inplement a tiered system of market placement of new shares issued to encourage the return of red chips to increase regulation and punishment, the establishment of income-based tax system, introduction of stock index futures and the stabilization fund. Finally a clear view of this article is that the Government's macro-control for the stock market, the invisible hand of the market to fully play a role, but when there is market failure, the government should intervene in a timely manner to ensure the normal development of the stock market. |
