The Research On The Securities Company's Financing Channels In China

As the most chief and important institution of the capital market, the securities company plays a very critical part. The full play of the function of the securities company needs a stable, effective and sufficient capital source. By growth and development of the capital market for more than 10 years, the securities companies have increased their scales to some extent. But there are also coming with some other factors that damaging the advanced development of the securities companies, it's the question of raising capital for they business.Security company is just a company who pursuing the probable maximum profit, so it must adopt the most effective methods to raise its capital. In our country, in order to control the risk of financial market, we always sacrifice the effectiveness of the market. So there are lacks of sufficient financing channels they can choose. Even sometime, securities companies have to turn to the illegal channels, which restrict the development of the securities companies greatly and lead to a disorder of the capital market..By reviewing the current financing channels which can.be used by the securities company and discussing the characteristics of financing models in the U.S. and Japan, we give some measures to those securities companies:(l) making good use of internal fund-raising; (2) improving the current financing channels; and (3) establishing some other new financing channels which has been proved reasonable in some other countries.