摘要
设立澳门证券交易所从事离岸人民币交易,有利于澳门产业结构的转型与适度多元化;有利于加快人民币国际化进程;有利于完善我国多层次资本市场体系。当然,现实中面临的挑战也不少。例如,现有的证券交易所竞争激烈,再设一个澳门证券交易所是否必要?澳门证券交易所如何解决流动性问题?如何解决澳门所在的大陆法系不适应创新性极强的证券交易业务问题?澳门证券交易所应实施错位发展的战略,一边吸引葡语世界的人民币离岸资金,一边吸引境内中小高科技公司来发行证券,这样能够闯出一片"蓝海"世界。流动性问题可通过在澳门多发行人民币债券,积聚更多的人民币离岸资金来解决。制定并严格执行以保护投资者为核心的法律制度,可有效解决法律体系有关的问题。
Establishing the Macao Stock Exchange to engage in offshore RMB transactions is conducive to the transformation and moderate diversification of the industrial structure of Macao;it is conducive to accelerating the internationalization of the renminbi;and it is conducive to improving China’s multi-level capital market system. Of course, there are many challenges in reality. For example, the existing stock exchange is highly competitive. Is it necessary to set up another Macao Stock Exchange? How does the Macao Stock Exchange solve the liquidity problem? How to solve the problem that the civil law system in which Macao is located is not adapted to the highly innovative securities trading business?The Macao stock exchange should implement dislocation development strategy, on one hand absorb offshore RMB money in the Portuguese world, on the other hand absorb the middle and small high technology enterprises of the mainland to IPO, this method can lead to a "blue sea" world. The liquidity problem can be solved by absorbing the institutions of the mainland to offer more RMB bonds in Macao.The civil law system problem can be solved by implementing laws for protecting the investor’s privileges and improving enforcement efficiency.
出处
《价格理论与实践》
北大核心
2019年第8期17-22,共6页
Price:Theory & Practice
