中国证券市场崛起于新旧体制的交替时代，正处于从起步到成熟的成长时期，这一时期的证券监管战略应遵循循序渐进的规律和以下原则：第一，适度原则。证券市场的各个组成部分是相互影响，相互促进的有机统一体，要保持其和谐、有序的运作，必须按着适度原则，对其中的各个运行 The rise of China’s securities market in the alternate era of old and new systems is in its infancy from maturity to growth. The securities regulatory strategy in this period should follow the principle of gradual and orderly progress and the following principles: First, the principle of moderation. The various components of the stock market are mutually reinforcing and mutually reinforcing organic unity. To maintain their harmonious and orderly operation, all the various operations