A Comparative Study Between Chinese And Korean Securities Market Opening System

This article is mainly aimed at introducing securities opening system of Chinese and Korean, and analyzing the different aspect of China's securities opening system. It is hoped to provide comprehensive introduction and analysis of QFII system.It searches the experiences which securities market opening of Korean are beneficial with character which will reach inside china actual semi-national and it combines and the current events point against the internal organs development project of Chinese QFII system. Specially, china must open a capital market generally which is appropriate it probably is how to search elementary.This article is divided into four chapters, except for the preface.Chapter one describes Korean securities market opening situation on the beginning of 90's. Chapter two discusses the present complete presentation of Chinese securities market opening system. Chapter three analyzes the similarities and radical difference compared with between the two securities markets. Chapter four compares the experience from under Korean opening experiencing and as conclusion presents the policy system current events point for general opening of Chinese securities.The innovation of this article is that it not only analyses China' s securities Opening system, but also examines coordination of Korean opening systems. Some of the issues have not been solved, and will need to be solved even after completely opening of China capital market.After analysis, the article got the following basic conclusions:(1)the impact of QFII in China' s security market is a long-term process, although there have an impact on the supply of funds and the quantity of institutional investors in a short period, but the impact in the philosophy and strategies of investment and the internationalization of securities market is not clear. According to the intimation experience, this procedure needs along-term accumulation.(2)China' s securities market should be opened by a gradual way. The restrictions of QFII system should be relaxed in a step by step process. (3)The further development of QFII system needs the implementation of various measures such as the constitution of the securities market legal system, the improvement of the equity system, finance innovation, as well as the promotion the level of supervision.