A Study On The Structure Of Chinese Capital Market

The Chinese capital market is an emerging market,and it was established during the reform from the planned economy system to the market economy system.However,there have appeared some deep-seated structural deficiencies due to the design limitations of the system.From this background,the dissertation studies the structure optimization of the capital market from the following four aspects:the structure of the investors,the main issuing bodies(especially listed companies),product-tools and the transaction system.The dissertation investigates the changing history of the capital market structure and the trend of development with the method unifying history and logic ,and finds the deficiencies of the capital market structure by comparision with those of developed countries.Then it analysizes the structure of investors with the models of game theory and the shareholding structure of listed companies with muti-dimentional linear method respectively.From the above analyses we can reach the following conclusion.It is necessary that we cultivate institutional investors vigorously,reduce the proportion of state-owned shares by the introduction of a number of corporate shareholders,innovate more financial derivative products as soon as possible and improve the multi-leveled structure of transaction system constantly.