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上海证券交易所发展研究中心副主任胡汝银博士指出,目前,中国证券市场发展所面临的挑战主要来自七方面:证券化率低,直接融资比重小、股权市场高度分割、投资非机构化、金融品种小、上市公司运行质量不高和金融市场处于高度管制状态。 胡汝银说,证券化率,即股市市值与国内生产总值的比率,是衡量一国证券市场发展的重要指标,反映一国证券市场在国民经济中的重要性。中国证券市场发展时间不长,证券化率为8.4％,而英国的证券化率为156.2％,这与中国国民经济总体规模不相称。 他说,由于企业内部自有资金不足等
Dr. Hu Ruyin, deputy director of Shanghai Stock Exchange Development Research Center, pointed out that at present, the challenges facing the development of China’s securities market mainly come from seven aspects: low securitization rate, low proportion of direct financing, highly segmented equity market, non-institutional investment, financial variety Small, poor quality of listed companies and financial markets in a highly regulated state. Hu Ruyin said that the securitization rate, that is, the ratio of the stock market capitalization to the gross domestic product, is an important indicator of the development of a securities market in the country and reflects the importance of a securities market in the national economy. The development of China’s securities market lasted for a short while with a securitization rate of 8.4%, while the UK securitization rate was 156.2%, which is not commensurate with the overall size of China’s national economy. He said that due to lack of funds within the enterprise and so on