Research On China Capital Market Efficiency Problem

Over decade years development, China capital market has striddenover an unusual course. In this short period, it has experienced a leaping—over development, made worldwide attracting achievements andbecome a most important part of socialist marketing economy system.Getting initial scale, China capital market is starting to play a more andmore important role in improving socialist resources allocation efficiency,promoting the national economy structure adjustment, reforming thebanking system and establishing the socialist marketing economy system.In this new century, facing the global economy development and theopportunities and challenges the entry into WTO brings, China capitalmarket is confronting an important option. In this new situation,researching and discussing the efficiency of capital market have a veryessential practical meaning.Over a long period of time, there is short of deep research on capitalmarket efficiency and the influence it has on the efficiency of economyincrease, especially short of comprehending, explaining, judging andconcluding the new market's "Chinese experience" on the economy shifting stage. At the same time, the estimation is staying at thesuperficial stratum. So, this thesis will discuss the deep connotation of thecapital market, through normative analysis and authentic proof analysis,to reveal the situation of China capital market efficiency. To make aconclusion of the So—called "Chinese experience" of capital market, isto promote the recognition on the China capital market developingregular pattern on the economy shifting stage, to be clear about thepurpose of capital market's norm development, to predict its developmenttendency, to explore the reform road of China capital market efficiencyand promote the establishment of the favorable workings of capitalmarket. Therefore, avoiding economy falling into an increase trap andoptimizing the capital and property rights resources for market allocation,provide a long—term efficiency support to economy development andpromote the efficient improvement of economy increase.