Research On Guangdong Regional Equity Market

In the past few years, the Chinese government was actively building the multi-level capital markets, especially the Over- The-Counter market(OTC market). In January 2013, the National Equities Exchange and Quotations(NEEQ) was built. It symbolized the nationwide OTC market was entering into a fast developing stage. Moreover, more and more regional equity markets started to emerge nationally. These regional equity markets act as complementary markets; showed problems such as repeated constructions, homogenization and low operation efficiency. As a result, the regional equity markets form a platform, which not only provides financial supports for the medium and micro-sized enterprises, but also establishes a crucial status in the whole economic reform. In this paper, methods like comparison analysis and empirical analysis are used to examine the equity trading market in the Guangdong province.At first, this paper analyzes the OTC market’s twist and turns in its developing in China. By comparing to the development of OTC markets overseas, experiences could be borrowed, which could help China’s own OTC market’s development. Furthermore, by analyzing the Guangdong regional equity market in multiple dimensions such as development state, trading system, public listing system, market service and regulation system; people can improve the operation mechanism of the market. Beside of this, this paper analyzes economic characteristics of Guangdong province, and the medium, small and micro-sized companies’ difficulties in capital financing. In the process of solving this problem, people can understand the impact of regional equity market on medium and micro-sized enterprises’ development. And then, this article focuses on the research, which is on the Guangdong regional equity market’s financing methods, effects, innovation and direction of development.Based on deep research on many aspects and comparative analysis between domestic and foreign horizontal, this paper puts forward suggestions to the future development of Guangdong regional equity markets systematically: need to adopt market-oriented mode of operation, establish multi-level regional equity markets and form internal multilevel; improve the top level system design and construction, pay attention to the private equity investment, develop the transaction functions which Guangdong regional equity markets lost. And according to each feature of the three regional equity markets in Guangdong, differentiation and development, this paper gives a lot of original advices for differentiation development.