The Research Of B Shares’ Development After The Financial Crisis

B shares market refers to domestically listed foreign investment shares securities markets. And it means that the Chinese limited companies issue special shares to oversea and domestic investors and the special shares list in domestic bourses. This special share is called B share, and the market is B shares market.The purpose of issuing B shares is to collect foreign money for the domestic company. Almost began with the A shares market, B shares market is well-deserved as a part of China capital market. But as China’s rapid economic development, and the deepening of China’s capital market, securities market especially A-share market got rapid progress that has become an important and indispensable part of China’s national economy. While B shares market has encountered more and more problems, even has appeared degenerate. B shares market also has appeared signs of marginalization and lost in dilemma, and the situation has lasted for years. The situation is very not harmonious with the whole rapid development. Whether B share market is closed as soon as possible or acquired new development, it should have a clear intention, should not continue the dilemmatic situation.With this problem, this paper tries to join with the far-reaching financial crisis and the basis of former B shares market discussion and tries to find the development path of B shares market. The main content of this paper includes five parts, and they are respectively:The first part is guided to introduce language, and the research background and significance, both at home and abroad and the research present situation, the research idea and the structure arrangement, the possible innovation and deficiencies. Then according to the domestic and foreign relevant research actuality, B shares market related theory and B shares market development process are introduced in the second section. One related theoretical basis mainly include financial function and evolution theory and efficient market hypothesis theory; B shares market history and development include B shares market main policy changes, and B shares the primary market and the secondary market development, etc. In the third part, this paper connects the related theory in the second part with B shares development situation, and use the theory to analyze the development of B shares. It is concluded a conclusion that B shares market has missed the function as a securities market. Although the conclusion drawn by B shares, currently closed the market is not feasible. Therefore, the paper continued analyzing some situation of closing B shares market. They are respectively that B shares market should develop as China’s offshore financial markets and B shares market should merger with A shares market or combine with H shares market as soon as possible. The fourth part first introduces the impact of the world economy and international environment by the financial crisis and the main changes after the financial crisis, as well as the main characteristics of Chinese macro-economic (GDP growth is slowing but the development situation is good, structural transformations, inflation pressure, money supply surge, foreign currency reserves uptick). As the background of the development of B shares market, these play an important influence. And then based on the financial crisis, the economy after this respectively expounds and the strategic significance of developing B shares market, this paper figure out an opinion that we may develop B shares. The strategic significance of developing B shares market mainly includes perfecting more level-oriented capital market, promoting securities market internationalization, scattering reserves risk, thrusting the strategy of "going out". Because of the four strategic significances of developing B shares market, in the fifth part this paper puts forward in the development thought of "positively developing in short-term, naturally combining in long-term ". First it should define the short-term and long-term development ideas of meaning. In the short-term positively developing mainly includes B shares market reorientation of the development of the new orientation, and measures. In the long-term naturally combining the fifth part analyzed the case of Singaporean capital market development. It mainly includes the conditions of long-term naturally combining with A and B shares markets and some enlightenment from the case of Singapore.