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经济学家萧灼基指出,中国股市经过10年的风风雨雨,在企业筹资、优化资源配置以及与国际接轨等方面有了长足发展,实现了10个方面的转变。一是由行政干预为主逐步过渡到市场选择为主。萧灼基说,我国股市建立初期,上市公司的推荐和审批,包括股票的发行价格完全是由证券主管部门行政审批的。现在逐步转到按照市场经济的办法来选择上市公司,股票发行价格也由上市公司与券商来协商,这表明行政干预逐步淡出。二是由为国企服务为主转到为国内所有企业服务。中国证券市场建立初期把股市建立在为国企服
Economist Xiao Zhuoji pointed out that after 10 years of ups and downs, the Chinese stock market has made great strides in raising funds for enterprises, optimizing the allocation of resources and connecting with the world, and achieved 10 changes. First, the gradual transition from administrative intervention to market-based. Xiao Zhuoji said that in the early days of the establishment of China’s stock market, the recommendation and approval of listed companies, including the issue price of shares, were entirely subject to the administrative examination and approval by securities authorities. Now it is time to move to the market-based approach to the selection of listed companies. The price of stock issuance is also negotiated by listed companies and brokerages. This shows that administrative intervention has gradually faded out. The second is from the main service for the state-owned enterprises to all domestic services. The initial establishment of China’s stock market to establish the stock market for the state-owned clothing