China Introduced The Need For Stock Index Futures And Securities Market

Stock market plays more and more important role in our national economy.The prcentage which the total market capitalization of China's listed companies takes in China's GDP is growing sharply. It exists series of problems like big system risk,lakc of financial derivatives, unhealthiness of market function mechanism in China's stock market,as a long position one,which restrict the development of stock market.As one of important financial derivatives, Stock Index Futures could find true value and be used for hedging,and become an effective tool for preventing risks. Stock Index Futures has a very fast development,and it has become a most important financial tool.However,China has no Stock Index Futures yet.So we must try to establish Stock Index Futures in proper time.It has becoming a exigency of our stock market.First, this thesis analyse the background in which Stock Index Futures come into being and introduce the development of stock index futures. Second,the thesis introduce the conditions of our stock market,and analyse the necessity of developing our stock index futures.In succession,we discussed the volatility,liquidity and the evaluation of the stock of foreign countries.On the basis of analysis,this thesis tries to make some predictions about the effect of stock index futures on our stock market.And the main ideas are as follows:the long-term tendency of the stock market which is determined by china's macro economy and corporation performance will not be reversed.And the introduction of stock index futures will add integrity to the financial market and deepen its structure reform.As for the liquidity of the stock market,it my be weakened in the short term and notably strengthened in the long run.Finally this thesis analyse some problems we will face when the Stock Index Futures comes true and we make some advise so that we can expect the stock market and stock index futures develop gradually and healthily.