20世纪90年代以来,国有企业在改革中步履维艰,资金紧缺始终是一个紧箍咒,国有银行的现行体制决定了国企不可能象从前那样从银行那里得到无限的资金支持。在这样一种背景下,能够吸收大量社会剩余资金的证券市场逐渐被政府有关部门所关注。如何充分地使用证券市场的筹资功能,不仅成为国企进入证券市场的原动力,也成为各级政府对证券市场进行管理的主要依据和尺度。 Since the 1990s, state-owned enterprises have struggled with the reform. The shortage of funds has always been a compulsion. The current state-owned banks’ existing system determines that it is impossible for state-owned enterprises to receive unlimited financial support from the banks as before. Under such a background, the securities market that can absorb a large amount of social surplus funds is gradually concerned by relevant government departments. How to fully use the financing function of the securities market has not only become the driving force for state-owned enterprises to enter the securities market, but also become the main basis and standard for the government at all levels to manage the securities market.