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国务院体改办副主任李剑阁前不久在中国证券市场10年论坛发表演讲,李剑阁指出,中国资本市场在发展过程中仍存弊端,他并提出证券市场在新世纪健康发展的建议。回顾中国证券市场刚刚走过的“儿童期”,李认为,股票市场的功能被过分夸大。他说,如果不切实际地要求资本市场做它不能做的事情,市场效率就会受损。因此,当务之急是把资本市场的功能定位在以市场化方式实现资源有效配置上来,即产权明晰的经济主体通过充分竞争决定价格,在价格引
Li Jiange, deputy director of the State Council’s Office for Restructuring and Reform, recently gave a speech in the 10-year forum of China’s securities market. Li Jiange pointed out that there are still some shortcomings in the development of China’s capital market. He also proposed that the stock market should develop healthily in the new century. Looking back at the “childhood” that China’s securities market has just passed, Li believes that the stock market’s functions are exaggerated. He said market efficiency will suffer if unrealistically demanded capital markets do what it can not do. Therefore, it is imperative that the function of the capital market should be positioned in an efficient allocation of resources in a market-oriented way. That is, the economic subjects with clearly defined property rights should determine the price through full competition.