Study On The Effect Of Securities Market On The Industrial Structure Readjustment Of China

Nearly 30 years of reform and opening up, the development of China's economic has gained remarkable achievement and the living standards in China has been improved greatly. Although Chinese economy has got a rapid development, the problems of industrial structure have become increasingly prominent, and the rapid growth of economy is blocked by the inconsequence industrial structure. Securities market as the main ways of resource allocation in modern market economy, has an important influence in adjustment of the industrial structure. Therefore, study on the effect of securities market on the industrial structure adjustment of China, and to make correlative recommendations is conducive to securities market to play a better role in adjustment of industrial structure in China.In this paper, building on the research of the theory about securities market and adjustment of industrial structure, the author have researched firstly the mechanism of securities market acting on adjustment of industrial structure from the function of the securities market. Secondly, based on the analysis of the actuality about the industrial structure and securities market in China, by regression analysis from the effect of securities market on industrial structure upgrading, from the effect of securities market on adjustment of three industries and from the effect of securities market on adjustment of concrete industries, the author have come to these conclusions: 1) In China, securities market have promoted the adjustment of industrial structure in a certain extent, and the effect accords with the policies of industries. 2) First industry is not affected by the securities market significantly. The securities market has played a positive role in development of Second industry an third industrial, especially in second industry. 3) In interior of three industries, the securities market have a great effect on some monopoly industries or some supported by the government, but some raising industries have not gained adequately support from the securities market. 4) To make the securities market play an even greater role in the adjustment of industrial structure, the author have made some suggestions to perfect the securities market, to make the securities market better combine with the development of industries and to promote the optimizing industrial structure.