Use Of Capital Markets To Promote Xinjiang's Agricultural Industrialization Operation

From early 1990s to today, China took more than ten years to establish capital market with a certain scale, covering the same process of several hundred years in foreign country, gaining an achievement that attracts worldwide attention. The relationship between capital market and national economy is getting stronger increasingly. In the condition of market economy, the growing up of an industry can only be realized by the means of big industrial capital. At the time of the new stage when Chinese agriculture and rural economy step into strategic structure adjustment, we welcome the first year of entry into WTO. In order to confront with the challenge of "entry into WTO"and accord with strategic adjustment of agriculture and rural economy, the main task is to enhance further the market competition of farm products in Xinjiang. To develop intensively the management of agricultural industrialization in Xinjiang, to support actively "leading enterprises", and so to form configuration of organization and operation mechanism that can promote the structural adjustment are the keys to implement overall the strategy of agricultural industrialization in Xinjiang. This paper combined agricultural economics with the theory of capital market, together with represent of agriculture in Xinjiang, to discuss several question of utilizing capital market to promote the management of agricultural industrialization in Xinjiang, which is practical important subject for Xinjiang where agricultural listed companies occupies a big proportion and that is based on agriculture. To order to establish the reforming tendency of socialist market economy, to enter into WTO, to put Chinese agriculture into the big background of market and internationalization, the development of agriculture can only be realized by resource allocation through market. Enterprise is the important carrier of resource allocation through market, and market agriculture is center around enterprise. The representative of our country's marketagriculture is industrialized management of agriculture, while agriculture industrialization puts the base for agriculture utilizing capital market. Capital market has direct promoting effect on agriculture industrialization of Xinjiang: the financing function of capital market is propitious to establish newly agricultural direct financing passage to overcome funds restriction in management and development of agricultural industrialization; it can restrain effectively repeat construction, to enhance the efficiency of resource allocation in the process of management of agricultural industrialization; it can promote effectively system conversion of "leading enterprise"in the management of agricultural industrialization, to activate the livingness of management of agricultural industrialization; it is helpful to form strong interest relationship mechanism which is centered around capital; it can enhance the reputation of "leading enterprise", to improve managing achievement; and it can scatter the venture of the management of agriculturalindustrialization. Capital market has also unique effect on Western Development, and it is a special resource of West Development, while Western Development also expands the development space of capita market. Xinjiang has firm practical foundation and real necessity to utilize capital market to develop agricultural industrialization. Agriculture ranks the basic position in national economy of Xinjiang, and resource advantage of agriculture is obvious. Characteristic farm products have evident advantage to take part in the competition of international market and to occupy the domestic market. While it has the advantage of technical support and policy protection to develop characteristic agriculture, and also has special organizational advantage of Xinjiang Production & Construction Group Until now, there are 9 Xinjiang agricultural listed companies, the main business and investment direction of which covers the fields of production and process of farm products, pasturage feedingstuff, seed, circul...