The Definition Of "Security" Under The Background Of Alteration Of Securities Law In Our Country

The definition of security in the current Securities Law in our country is more than narrow and less than broad.It can't satisfy the needs of the development of China capital market.Also it has a negative impact on the protection of right and interest of investor,the efficiency of the mechanism of capital formation,and the framework of supervision system.So for the alteration of Securities Law,it is necessary to amplify the definition of security.In the beginning of this text,I review the argument in the process of the legislation of the Securities Law in 1988.Also,I combine with different opinions of legislation circle to evaluate and analyze the scope of the current Securities Law and elaborate the meaning of the definition of security.Then I find the way to define the security through analyzing the legislation model and content from abroad and combining the practice of securities market in our country.On legislation model,in the meantime of typed enumeration,our country should add general description.On legislation content,our country should include every kind of bond into Securities Law.Also it should add the share of collective investment schemes,financing notes,asset backed securities,securities derivatives and Investment contract securities.Also our country should alter the enabling clause into the form ascertained by CSRS and authorized by central government.