The Study Of Establishment And Operation Of Regional Capital Market Of China

Capital market is platform for investment and financing,the development of it has an importantinfluence on business and even a whole society's economic growth.However,there are still anumber of problems of China's capital market: The lack of hierarchy of capital marketsystem,imperfect capital advance and retreat mechanism,inefficient of capital markets, high risk ofthe whole capital market system, imbalances in the stock and bond market development, all thesecaused of China's enterprises, especially SMEs'difficulties in meeting financing needs,andseriously hampered the development of enterprises. To address the financing problems ofSMEs,accelerate region's economic transformation and upgrading of industrial structure,promoteregional economic structure, improve and enhance the enterprises of market competitiveness, thispaper proposed the establishment of a regional capital market in China .This paper described the status of the United States, Japan and the United Kingdom and otherdeveloped countries of the regional capital market, theoretical models attempting to providepractical insight, on this basis, to provide the experience for reference for China's regional capitalmarkets, borrowed the successful experience of developed capital markets,combined China'scapital market development in our own conditions,analyzed the deficiencies establishment ofregional capital markets in China. TakeYellow River Delta Economic Zone as a example, proposea number of specific measures in the establishment of a regional capital market in China,such asthe creation of sound financial environment, construction of trading platform, improve the mainbody of the regional capital markets, and then analyzed the operation trading mechanism, listingstandards,and investors to advance and retreat mechanism, income distribution, ensure its effectiveoperation and development. In order to protect the healthy operation of the regional capitalmarkets, this paper proposed a series of safeguard measures, put forward concrete measures fromthe legal system environment, regulatory system, as well as risk prevention measures.