The Role Of China's Otc Market In The Capital Market Research

Multi-level capital market capital is necessary for the healthy development of the institutional basis. From the United States, Japan and other developed countries experience, the OTC market is an indispensable part of as a multi-level capital market system.China's capital market has played a positive role such as establishing a modern enterprise system, but the current capital market there are still structural defects. Shanghai Stock Exchange and Shenzhen Stock Exchange Main Board and other relatively developed, the GEM is also about to come out, but the development of the OTC market is not optimistic, as a restricted key to the development of capital markets. In view of this, this article will focus on the analysis and discussion of China's OTC market development related issuesOverall this paper is divided into six chapters. The first chapter is "Introduction" section. It includes background on the topic, writing motivation, research ideas for a brief overview of such issues.Chapter II is "over-the-counter trading market in the capital market's role." Described in the definition and the characteristics of the OTC markets, this article focuses on the importance of building a multi-level importance of capital markets, as well as over-the-counter trading market.Chapter III is the "developed countries and regions of the pattern of over-the-counter trading market." In view of the OTC markets, the United States is the world's largest, most comprehensive organization OTC market, the focus of this article on the U.S. OTC market analysis models. In addition, further to Japan, Taiwan and Korea OTC market model was introduced and analyzed. Outside the OTC market model of reference for the next chapter in our country a unified construction of the OTC market has done to pave the way.Chapter IV is "China's development of the OTC markets, the necessity and feasibility study." First of all, focus on China's multi-level capital market system construction issues; secondly, the over-the-counter trading market in our country to carry out an analysis of the development; again, on the OTC markets, China's development of meaning; Finally, combing the developed countries and regions over-the-counter trading market for our reference model. Chapter V is "Construction of Shanghai-led unification of the OTC markets, the necessity and feasibility study." First of all, an analysis of Shanghai's economic, financial and policy, the implementation of the OTC market conditions. Secondly, from the "basic principles, general idea, the idea of supervision," we discussed the suggestion of building the OTC markets in Shanghai. Finally, learn from the outside in the OTC markets, the model of experience, taking into account the development of China's capital market conditions and the Shanghai stock of the current favorable resources, we have made in building a unified Shanghai OTC market implementation details.Chapter VI is the relevant conclusions.