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我国证券市场经过近几年快速发展,已形成了较大的规模,在国民经济中发挥着越来越重要的作用。但是市场体系不完善,系统风险越来越大,市场对避险工具的需求也日益迫切。进入世贸组织后,中国金融市场必须遵循国际准则逐步对外开放,而目前金融市场包括证券期货市场与WTO的要求相距甚远,这表现在无论是市场的规模、品种结构、投资者队伍、交易模式,还是市场机制功能方面,都与现代金融市场要求有较大的差距。更为突出的是,中国还没有股指期货等金融衍生品市场,难以提供WTO所要求的良好金融服务。因此,股指期货是我国完善证券市场的必需,也是加入
After rapid development in recent years, the stock market in our country has formed a large scale and plays an increasingly important role in the national economy. However, the market system is imperfect and the system risk is getting bigger and bigger. The market demand for hedging instruments is also increasingly urgent. After entering the WTO, China’s financial market must gradually open to the outside world in accordance with international norms. However, the current financial markets, including the securities and futures markets, are far away from the requirements of the WTO. This is reflected in the fact that both the size of the market, the structure of the commodities, the investor team and the trading patterns , Or the function of market mechanism, they all have a big gap with the requirements of modern financial markets. What is even more prominent is that China does not yet have a market for financial derivatives such as stock index futures and it is difficult to provide the good financial services required by the WTO. Therefore, stock index futures is necessary for our country to perfect the securities market, but also to join