新中国的证券市场从无到有、从小到大,20年里走完了发达国家上百年时间走完的路程,取得了举世瞩目的成就。尤其是近五、六年时间里,随着高风险证券公司处置、股权分置改革、发行制度逐步市场化、中小板和创业板市场设立、融资融券和股指期货交易开启等重大举措的实施和完成,我国证券市场发生了质的变化。这些变化,不仅表现在 From the very beginning, the stock market of New China has grown from 20 years to the end of a century when the developed countries have completed their journey and has achieved world-renowned achievements. In particular, in the recent five to six years, with the implementation of such major measures as the disposal of high-risk securities companies, the reform of split share structure, the gradual marketization of the issuance system, the establishment of the SME board and the GEM market, the opening and trading of margin financing and securities lending and stock index futures And completed, the Chinese stock market has undergone a qualitative change. These changes are not only manifest in