Research On The Market Supervision Functions Of The Chinese Government In The New Era

Macro-control,Social Management,Public Services and Market Supervision are customized four government functions defined by Chinese government.Improving market supervision system and promoting the market economy stable and sustainable is one of the core content in the construction of a socialist market economy.The stock market is an important part of the capital market,and whether the stock market is stable directly affects the healthy of the market economy.Since1992, the Chinese government began to implement the regulation of the securities market,such illegal acts as Insider Trading,Fraudulent listing,False disclosure,Market manipulation, Plunder for small investors have occurred frequently.In the calling for strengthing supervision,our government indeed improved supervision to deal with a large number of illegal cases.However, because the role of the government is out of location for a long time,the relationship between government and market is unclear.The measures taken by government are "Stop-gap" instead of "permanent",which fails to face the institutional reasons that contributes to securities market regulatory failure.Therefore,Securities market regulatory failure has become persistent ills,even intensified.The study found that In the current,the reason of the failure of China’s securities market regulation is including:the government and the market positioning error, Securities market regulatory system is not perfect,Stock market law is imperfect,defects in the integrity of the securities market of market mechanisms and Local protectionism hinder the securities market regulation and law enforcement work.So The Government should take the following measures to cure the ills of the stock market regulatory failure, including:China Securities Regulatory Commission clear role by strengthening the regulatory to restore market order,Improve the legal framework for securities on and punish criminal acts,sound securities market regulatory system to improve the status of the Commission’s authority and supremacy,Propulsion system construction, strengthen the supervision of the Commission and other securities regulatory authorities,Construction of the securities market integrity mechanisms to improve the cost of dishonesty,and Promote the transformation of the government to overcome local protectionism.Only while promoting market reform and government reform, China’s securities market regulators failed to crack the problem, effective safeguard the legitimate rights and interests of investors, achieving healthy and sustainable development of the securities market.The paper is divided into seven parts:The first chapter is introduction,proposing the background of this study,the basis and significance of the topic,the main research methods,research framework and theoretical basis of this study.The second chapter is to review the relevant literature about market regulation in domestic and overseas,and analyze the current situation about market regulation research,further,I point out the main problems and shortcomings,then propose the innovation of the research.The third chapter is to analyze the history and current situation of China’s securities market regulatory,including the three stages that starts with1992when Chinese government began to implement regulation,I also summary the main features of the securities market,and inspect the existing problems of the securities market.The fourth chapter is to analyze the typical case of China’s securities market regulatory failure in the current.The fifth chapter is to analyze the reason of China’s securities market regulation failure from the perspective of institutional mechanisms and social roots.The sixth chapter is to integrate the reason of China’s securities market regulation failure with the successful experience of the securities market regulation in developed countries,and to propose some suggestions that advance the securities market regulatory functions about Chinese government.The seventh chapter is the conclusion and a summary of the full text.