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1992年中国证券市场获得大发展的真正动力,是邓小平的南巡讲话和中共十四大正式确立改革的市场经济导向。具体的条件有两条,一是经济高速增长,银根放松;二是金融管理松驰,大量银行贷款可以从其他领域中抽出投入证券市场,据股票专家估计有1/4的基本建设投资会“漏出来”,这是“中国式的”经济增长与证券市场的关系。
The real driving force for the great development of China’s securities market in 1992 is Deng Xiaoping’s speech on the southern frontier and the market-oriented economy formally establishing the reform of the 14th National Congress of the Communist Party of China. There are two specific conditions, one is the rapid economic growth, monetary easing; the other is the loose financial management, a large number of bank loans can be drawn from other areas into the stock market, according to stock experts estimate that 1/4 of capital construction investment will be “ Leaked out ”. This is the relationship between“ Chinese-style ”economic growth and the stock market.