On The Function Of Self - Regulation Of Stock Exchanges In China

Securities market is of great importance to development of a country's economybut is also a high-risk market. If improperly operates, it would result in economiccrisis and even social crisis, so securities supervision should be emphasized.Securities supervision contains self-regulation and government supervision. Securitiesexchange is the most important self-regulation organization. It is a special form ofeconomic organization in modern market economy system and organization and themost front supervisor of securities exchange market. Self-regulation of securitiesexchange is an important part of securities market supervision system. It suppliesgood service of supervision to the participator of securities market by the professionalknowledge of exchange environment and market and the fast feedback to the unusualphenomenon.Securities market in China is built on the direct of government, so governmentalsupervision plays a dominant role in securities supervision system. Though theposition, form and function of self-regulation vary in United Kingdom, America andGerman, it can not be replaced by governmental supervision. At the moment ofjoining WTO, We must take active measures to adopt the successful experience ofother countries and construct and perfect the self-regulation system of securitiesmarket in order to consummate our securities supervision system and insure thelong-term and healthy development of securities market.