China's Gem Market Maker System Research

Along with the increasing development of market economy in China, the capital market has been a very important part of national economics. For more than ten years, the Chinese economy has maintained a high rate of increment. Chinese capital market also has enjoyed a rapid development recently. The GEM has consummated the level and structure,also the depth and breadth of our country's capital market, which has the epoch-making significance. The main purpose of this article is to make a system analysis on the relationship between the GEM and the market-making system.This article has done a study on the market-making system of the GEM from various multiple perspectives. Firstly, it makes a review of the history of the capital market and GEM, summarizes the related experiences and proposes some expectations to the development of the future.Then it does some detailed introductions to the GEM and the market-making system, summarizes international successful experiences, and makes enough multi-position comparative analysis of various countries and states. After that it makes a study on the necessity of introducing the market-making system, which has explained the main reasons from the view of the economic supply and demand analysis and particular advantages of the market-making system.The practice and theoretical research, mainly indicates that,with the methods of puzzle evaluation, AHP and system economics, it is basically feasible to introduce the market-making system to the GEM of our country. It also makes a discussion on the result, danger, and resolutions of the problem after doing that. Based on the domestic and foreign practice rules, the discussions about the pattern and design of Chinese GEM, have showed us the concrete procedures to introduce it, and also proposed some advice about the related design and supervision system of it. At last the article makes some summaries and gives some policy suggestions about the future of the GEM development of our country, with the hope to promote the rapid execution of market-making system in China.