摘要
党的二十届三中全会提出“建立增强资本市场内在稳定性长效机制”,有利于推动我国资本市场高质量发展。在论述资本市场内在稳定性内涵的基础上,对我国资本市场内在稳定性不足的表现及原因进行分析,提出增强资本市场内在稳定性长效机制的原则及建议。研究表明,内在稳定性内涵主要由市场价格稳定、市场结构优化、市场机制完善、市场参与者完备以及抗风险能力强构成。我国资本市场内在稳定性不足的原因是政策的不确定性、投资主体结构不合理、上市公司资本结构不合理、投资者信息不对称及金融监管不完善。从提高上市公司质量、营造良好市场环境、注重投融资动态平衡、增强投资者回报和加强资本市场监管等方面,提出增强我国资本市场内在稳定性长效机制的建议。
The Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed“establishing a long-term mechanism to enhance the intrinsic stability of the capital market”,which is conducive to promoting the high-quality development of China s capital market.Based on the discussion of the connotation of the intrinsic stability of the capital market,analyzes the manifestations and reasons for the insufficient inherent stability of China s capital market,and proposes principles and suggestions for enhancing the long-term mechanism of intrinsic stability.Research shows that the connotation of intrinsic stability mainly consists of market price stability,market structure optimization,market mechanism improvement,complete market participants,and strong risk resistance ability.The reasons for the insufficient intrinsic stability of China s capital market are policy uncertainty,unreasonable investment subject structure,unreasonable capital structure of listed companies,asymmetric information among investors,and imperfect financial regulation.And which propose suggestions for enhancing the long-term mechanism of intrinsic stability in China s capital market,from improving the quality of listed companies,creating a favorable market environment,emphasizing the dynamic balance of investment and financing,enhancing investor returns,and strengthening capital market supervision.
作者
沈冰
陈昱儒
SHEN Bing;CHEN Yu-ru(School of Economics and Management,Southwest University)
出处
《当代金融研究》
2024年第10期16-27,共12页
Journal of Contemporary Financial Research
基金
重庆市社会科学规划项目“大数据背景下上市公司中小投资者权益保护研究”(2020YBJJ55)。
关键词
资本市场
内在稳定性
高质量发展
长效机制
Capital Market
Intrinsic Stability
High Quality Development
Long-Term Mechanism
