The Construction And Development Of Chinese Capital Marketing Institution With Economic Transition

The reform of capital market China originated in the economic system， is aproduct of transition from planned economy to market economy. But the formationand development of the construction of capital market depends on the system andimprove the. At present, the Chinese capital market more theoretical research, but theresearch on capital market system is relatively weak. So this paper to Chinese capitalmarket system as the research object, to explore the development of capital marketsystem, the existing problems and the reasons to analyze the current capital marketsystem, draw lessons from foreign developed capital market system constructionexperience, puts forward the countermeasures to perfect the capital market innovationand the system of the Chinese.Four basic based on the capital market system: issuing system, trading system, information disclosure system and supervision system as the main clue of the researchlaunches the discussion. First of all, to interpret the concepts related to the capitalmarket system, the basic elements of understanding, laying a basis for later theoreticalanalysis. Secondly, based on property rights theory, transaction cost theory, the virtualcapital theory as the theoretical framework construction of capital market systemtheory foundation, explains the theoretical source of system construction, and with thedevelopment of the theory of system extending effect. Then, starting from the fourbasic system, briefly introduces the basic connotation and the classification system,summarizes the features and evolution process of the four basic system. At the sametime, the reason and the performance of institutional change are discussed, in order topredict the future direction of development. In this dissertation, the developedcountries in the world such as American, British and Japanese capital market systemconstruction and the change of history made a comparative study, learn from the experience of the construction of the system from the developed capital market,providing experience and reference for Chinese capital market system construction.Finally, according to the present situation and the market Chinese capital marketsystem to further the urgent demand of the development of the system, combined withtheir actual situation and the advanced experience of foreign countries,countermeasures are given the basic system of four capital market improvement andinnovation.The construction and development of China capital market system, is not only theeffect on the capital market, is also the epitome of the development of the marketeconomy. Gradually promote the innovation and development of the capital marketsystem, is of great significance not only to the capital market, to the entity economylaw also has a significant effect. Especially in the transition economy China furtherpromote economic transition and development is of far-reaching significance.