China Market In The Stock Market Reform Path

China in October 1984 the Third Plenary Session of the CPC-second of a planned commodity economy put forward eight years later, again in October 1992 declared the CPC congress to establish a socialist market economic system. But in fact, when we implement the stock market open, we had taken a foot to a market economy. Open, competitive and orderly market system is the establishment of socialist market economic system the necessary conditions. Market system of production, the market economy is of great significance. The market economy is the allocation of resources by the market mechanism to function in the economy, and the market system is the market mechanism to play a role in the necessary conditions. Since 1990, the Shanghai and Shenzhen stock exchanges since its establishment, to pull a prelude to the development of securities markets, the rapid development of China's securities market has made remarkable achievements.However, China's securities market is still developing, there are still problems to be solved. Such securities on the functional orientation of the dislocation, the stock market listed companies less able to refinance, most are state-owned enterprises, and the most efficient non-public economic activity has not been playing well, which is China's market economic system do not match, leading to lack of stock market activity. Governance of listed companies based on the lack of interest. Two thirds of the shares not in circulation, the objective result in a relatively small circulation of capital, the stock market speculative, volatile stock prices. Securities regulators there are also many shortcomings. SFC as director of the State Council is the cause of the national securities and futures markets unit, entitled to exercise the right of approval or approval. But according to the relevant provisions of the Constitution and other institutions are not empowered to departmental regulations. Its internal functions of the Commission is not perfect, is limited to research, advocacy, communication, coordination, etc., but no real implementation of its functions, resulting in poorly managed, did not play a supervisory role. The absence of owners of listed companies, but also directly affect the overall strength of listed companies and some non-standardized operation.This article has been made in certain securities based on the analysis of the achievements of China's stock market problems and solutions.