Research On The Mechanism Of The China Securities Regulatory

Since the reform and opening up, China’s market economy booming at an unprecedented rate, the same as with the developed capitalist countries, economic development, to a certain extent the market can certainly spawned securities issuance and trading, investment and financing, China’s stock market in1980s began to form and with the economic development continuous development and improvement. As the market players themselves have to rely solely on the greed of making its self-restraint can not avoid financial risks, market regulation as an indispensable safeguard fair and orderly external forces form the basis of any well-functioning securities market.Securities market regulation,including administrative supervision and self-regulation, etc, on the basis of which is divided in to an executive-led regulatory model, discipline-oriented regulatory model and integrated regulatory model. Counties in the world based on the actual situation of the country and choose traditions in the country’s securities market regulation mode, but no matter what kind of regulatory means, they can not avoid regulatory inherent drawback. On the securities market, the regulation of the most important is the "effectiveness" and "moderation", by designing the lowest cost, highest efficiency of resource allocation system, making the role of administrative regulation and self-regulation between clear and mutually reinforcing, form an effective regulatory system. Given China’s economy has entered the era of world economic integration, the impact of fluctuations in the stock market on the growing market economy, how to learn from the developed capitalist countries securities regulatory experience and lessons learned, based on the further development and improve the existing regulatory mechanism has become purify the current stock market, the establishment of the most important conditions for the securities regulatory regime. The purpose of this writing is also through the analysis of the current regulatory regime that China’s stock market in the developed capitalist countries and foreign comparative basis to further explore the establishment of a more comprehensive, more effective operation of the securities market regulatory mechanisms, making is currently not perfect, yet to be developed securities markets can develop steadily and orderly operation.In this paper, the main idea of four components:Firstly, the meaning of securities market regulation, and the necessity of the existence of the theory as a whole, by this section constitutes a rough framework for securities regulation, a preliminary understanding of the securities regulation; second, introduction The United States, Britain, Germany, the securities market regulatory system, using the comparative method can draw these countries and regions can learn from experience; third, the detailed description of the course of development of China’s securities regulator and the regulatory approach government regulation and self-regulatory organizations supervision, through elaborate further understand the current situation of China’s securities market regulatory system; fourth, combined with China’s regulatory status quo as well as the advanced experience of developed countries and regions, combined with the foregoing securities regulators for specific problems exist in the market, the relationship between the existing regulatory and permissions remodel.