Complementary And Optimization Official And Private Equity Financing Mechanisms

Investment in overseas markets, margin trading is a common practice in mature trading system, the basic functions of the stock market is one of the foundations of the important role that it will not only improve the efficiency of the market price discovery and improve market quality, but also on trading activity improve the degree of a very active role. With equity branch reform of governance of listed companies, to develop institutional investors, securities companies and a series of comprehensive management reform and development efforts to further promote the stock market institutional infrastructure has made positive progress, conduct margin trading business in the market environment has mature. In this context, approval of the SFC, March31,2010, the Shanghai and Shenzhen Stock Exchange started accepting from the first batch, including Guotai Junan, Guoxin Securities, CITIC Securities, etc., many brokers for margin trading pilot reporting this means that after four years of preparation margin trading has entered the stage of market operations. So our margin financing business is now in the business of running status? What should we go to improve our existing financing system.Margin trading business in China started late, the Shanghai and Shenzhen stock markets rose for the introduction of rules for short selling constraints and develop higher margin ratio (leverage weak), combined with the first batch of pilot securities firms and smaller number of underlying securities, resulting in institutional investors and retail investors more on the sidelines, margin trading business turnover of less than effective, therefore, improve the system of financing, to promote the healthy development of the margin has a positive practical significance.In this paper, the current financing system and the status of the official folk margin as research subjects, combined with the general investors to existing financing requirements and the government launched a fundamental starting point margin, while the existing financing system innovation, making the financing of financial voucher system has become more sophisticated and user-friendly, and conducted a detailed comparison based on years of private financing and the existence of official financing, and thus the above problems have been studied and answered questions.