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场外股票交易市场作为多层次资本市场体系的重要组成部分,在发达国家已有多年的发展历程和良好的市场基础。我国场外股票交易市场建设相对滞后,主要沿着两个层次发展,即代办股份转让系统和以产权市场为基础的股权交易市场。本文首先对我国场外股票交易市场的发展状况进行了回顾和介绍,进而对场外市场发展中存在的问题和未来发展的可能性进行了分析。最后,本文分析了以产权市场为基础建立场外股权交易市场的必要性和可行性。
As an important part of the multi-level capital market system, the OTC stock exchange market has many years of development history and a good market foundation in the developed countries. China’s off-market stock exchange market lags behind the development, mainly along two levels of development, namely, the agency stock transfer system and the equity market-based equity market. This article firstly reviews and introduces the development of OTC market in our country, and then analyzes the existing problems in OTC market and the possibility of its future development. Finally, this article analyzes the necessity and feasibility of establishing OTC market based on property rights market.