香港的资本市场由股票市场、债券市场、基金市场构成。长期以来,香港资本市场呈现出股票市场一枝独秀、债券市场相对沉寂的格局。进入90年代,香港股票市场的市值晋升世界股市前八名,并被国际金融公列为23个发达股市之一;香港债券市场的规模和集资额不断扩大,逐步发展成为亚洲最主要的债券市场之一;香港基金市场在90年代也进入发展的高潮时期,成为亚洲 Hong Kong’s capital market consists of the stock market, bond market and fund market. For a long time, the capital market in Hong Kong has shown a unique stock market and a relatively quiet bond market. In the 1990s, the market capitalization of the Hong Kong stock market rose to the top eight in the world stock market and was listed by the International Finance Corporation as one of 23 developed markets. As the size and fund-raising of the Hong Kong bond market continued to expand, it gradually developed into the most important bond market in Asia One; Hong Kong fund market in the 90’s also entered the climax of development, become Asia