1984年,上海飞乐音响发行了改革开放后我国的第一张股票,标志着我国股票市场从此诞生,证券市场的诞生和发展促使了我国证券市场监管机构和监管体系的出现。由于证券市场在不同阶段的发展变化, 为适应其不同阶段监管的需求和特点,我国证券市场的监管体系也适时做出调整 In 1984, Shanghai Feile Audio Co., Ltd. issued the first stock of our country after the reform and opening up, marking the birth of China’s stock market. The birth and development of the securities market prompted the emergence of China’s securities market regulator and regulatory system. Due to the development and changes of securities market in different stages, in order to meet the needs and characteristics of supervision in different stages, the regulatory system of China’s securities market also makes timely adjustments