Research On The Stock Broker System In China

Stock brokers are playing a more and more important role on the brokage business of securities companies in China, for example, the amount of exchange commission made by customers introduced by stock brokers in the first half of year 2008 in the company the author works for, accounts for 51. 4 percent of the total amount. But on the contrary, special regulation of stock brokers made by securities regulatory system is still absent, securities companies hire stock brokers as promotion tool and do not concern the development of stock brokers' career, the comprehensive competence of each stock broker varies large, the habit of obeying rules doesn't run deep into stock brokers' consciousness, stock brokers are not recognized by the public. In one word, the stock broker system in China is still in the developing phase and doing some research on the system is of significance.The article is divided into six chapters as the following:Chapter 1 points out that the object of the article is stock broker system in China and the goal is to offer suggestions. The chapter also illustrate the significance of the article from the practical aspect and theoretical aspect.Chapter 2 is a literature review on the functions of the stock broker system, the development of the system, the comments on the system and the introduction of foreign stock broker system.Chapter 3 is theoretical analysis of stock broker system, which is based on the basic theory and principal-agency theory of new institutional economics.Chapter 4 illustrate the current situation of stock broker system in China from the following four aspects:obligations of securities law, regulations of China Securities Regulatory Commission, rules of Securities Association of China and management of securities company. Chapter 5 is ten suggestions on the stock broker system in China, of which six is from the aspect of regulatory system and four is from the aspect of securities company.Chapter 6 summarizes the whole point of the article, points out the innovation of the article and the next working direction of the author.