The Quantitative Evaluation On The Healthy Development Of Chinese Stock Market In Functional Perspective

Development of stock market and its'healthy development are the typical characteristics of a modern and developed market economy .as the most important component of the capital market, stock market is a product of the full development of the market economy, which is inextricably linked to economic development. Stock Market Quotes of a country can basically reflect the operational status of the country's national economy. the stock market is more mature and positive,its role in the economic development is more prominent.this is the stock market function. Function of the stock market is not perfect in born, but is continuously improved in the process of development. The author believes that functions of a mature stock market mainiy include investment, financing and resource allocation by summarizing. effective operation of these functions is directly related to the healthy development of the stock market. Therefore, the acceleration of standardization of functions of China's stock market is of great significance for our country which is still under the influence of the financial crisis.This paper mainly studies the features of Chinese stock market investment, financing, resource allocation function and functional aspects of development.Firstly, the paper improves theoretical basises, summarizes the core of the healthy development of the stock market and put forward what is the healthy development of the stock market from a functional point of view, mainly: A healthy stock market should be in an open, fair and just market environment, based on its effectively operation of basic functions (including investment functions, fund-raising function and resource allocation function). The stock market has shown the obvious investment value, reasonable stock price,which can effectively guide social idle capital into stock market.Stock financing maintains continuity, and it increases year by year, becoming the major source of corporate funding requirements. The industrial structure of listed companies are in line with the national industrial policy. Corporate business efficiency is greatly improved. Structure of capital flow is rational. The allocation of resources continues to be optimized. the presentation of five moderate indicators of the stock market is a healthy developing stock market, as the basic idea of the full evaluation.Then the relevant theorises of stock market functions are reviewed, its basic functions are divided into: investment, financing and resource allocation, as the starting point and the scope of this study. The paper sets up authoritative evaluation index system, and indicators of the reliability of the application are demonstrated.Through quantitative and qualitative analysis, the evaluation results are obtained in this paper: Chinese stock market investment function is gradually improved, reflecting fine investment value, but stability is not strong. There are also missing points in the development of the market.the financing function plays less. The household savings are not made a reasonable channel into the stock market and lack of financing capacity with instability of funding continuity,which make a lack of continuity of equity financing. Resource allocation function is basically reflected. The liquidity structure of the stock market is in line with national industrial policy,so equity ratio of listed companies are increased, operational risks are reduced, but in household savings into investment funds, the allocation of resources is not ideal.so there is a tremendous upside potential.Overall, developing of Chinese stock market is not healthy, there are many places need to be improved . In the face of the grim situation, in order to speed up the standardization process of the stock market function to achieve the stock market's benign and healthy development, to solve existing problems is the only way. In the end,the paper has carefully studies the reasons which made the developing of Chinese stock market function into unsatisfactory,puts forward exploratory proposals.the paper expects to help the improvement of Chinese stock market function,so as to speed up the stock market's sustained, healthy development.