Research On Securities Industry Regulation Of China

Since 1987, the first securities broker company of China—Shenzhen Securities Broker Company was established, the securities broker company has obtained tremendous development and already formed the industry with certain scale. The securities industry has played the positive role for the different fields of promoting the development of security market, optimizing social resource distribution etc.. But there are a lot of questions influencing the development of securities market of China. Therefore, it's important to regulate the securities industry. This thesis is based on reviewing of the development of securities industry of China and the course of securities industry regulation, using foreign advanced experience, from four angels-- regulator, securities industry, the content of regulation and investors, to study several big problems that the securities industry of China, and make suggestions on solving the problems. This thesis includes five main parts:First part, introduces the general regulation theory, analyze the theory applicability in the securities industry, and regard it as the theoretical foundation of the securities industry regulation.In the second part, we discussed how to regulate, enumerated three kinds of international regulation modes and analyzed their advantages and disadvantages .Then we studied their types--U.S.A., Britain, Germany as the example to introduce the development and characteristic in detail, and draw a conclusion that the international securities industries regulatory model tend to the same.The third part investigates Chinese securities industry regulation. The thesis introduced the situation of Chinese securities industry from three aspects, regulatory system establishment and development, regulatory content and regulatory means. According to the experience of the Chinese securities industry, securities industry regulation has gone through four developing stages. The regulatory content and means are being perfected constantly.The fourth part on the foundation of the previous chapter, we analyzed the main problems of the securities industry regulation of China, from four aspects regulator, securities industry, investors and regulatory content. While the Chinese securities industry develops, regulation will play a positive role to the sound development of securities market, securities company regulation and investor interests protection. But there still are lots of shortages.To the above questions, the last part of the thesis has put forward the corresponding countermeasures and suggestions.Main innovation of this thesis is regarding securities industry as regulating object, using the industrial regulation theory, according the empirical analysis and normative analysis, to study the securities industry .We found out the problems of Chinese securities industry regulation, through comparing with overseas. Then we propose the countermeasures and suggestions.