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基金本身就是一个市场链,证券投资基金与私募股权投资基金最大的区别就在于两种基金投资对象的不同,由此导致两者对经济发展的作用存在较大差异。这种差异集中表现在两种基金对实体经济与资本市场作用的顺序上,从而产生不同的资产泡沫性。我国由于证券市场制度环境的不健全,导致该市场赌性增强,易生资产泡沫。在此情况下,大力发展股权投资基金则有利于资本市场结构的优化。
The fund itself is a market chain. The biggest difference between a securities investment fund and a private equity investment fund lies in the difference between the two fund investment objects, which leads to great differences in their roles in economic development. This difference is concentrated on the order of the two funds’ roles in the real economy and the capital market, resulting in different asset bubbles. Due to the imperfect institutional environment of the securities market in our country, the market has become more gambling-prone and the asset bubble is prone to occur. Under such circumstances, developing the equity investment fund is beneficial to the optimization of the capital market structure.