Otc Research, The Development Of China's Securities Market

The securities market in China, being in the developing stage in developing country, consists of many problems compared with those in developed countries with mature markets. To standardize and develop securities market is an emphasis of China's economic and financial undertakings in new century. Then, how to achieve this goal effectively? Most researchers have answered this question from the point of Securities Exchange, while in this thesis, the author tries to do this from a wholly new aspect, namely Over the Counter Market (OTC market). To elaborate the interrelationship between OTC market and the development of securities market, the thesis draws a reasonable line between securities exchange and OTC market, then compares OTC markets in foreign countries with that in China, from which conclusion is drawn that OTC market has been seriously underdeveloped in our country. The fact that OTC market has been restrained and prohibited is one of reasons why there are so many problems in securities exchange. As a result, to develop OTC market is able to perfect our securities market It does this by standardizing the bodies of property right, widening financial channels of nongovernmental business, middle and small enterprises, relocating functions of securities market, building up securities market with varied structures and promoting the development of debenture market To pushing forward the development of OTC market, system transformation, the rules and laws construction, market bodies breeding, technology innovation are required to realize the legalization, standardization, rationalization and modernization of OTC market...