目前我国证券公司杠杆比率仍然维持在较低水平,这从一个侧面说明我国证券业已迈入“依法经营、稳健发展”的新轨道,正在逐步走向规范和成熟。美国独立投行在此次国际金融危机中接连倒下,给我国证券业发展提供了有益的借鉴和启示。 At present, the leverage ratio of China’s securities companies is still at a relatively low level. This shows from a single perspective that our securities industry has entered a new orbit of “running according to law and steadily developing” and is gradually moving towards standardization and maturity. The independent U.S. investment bank fell in succession during the international financial crisis, providing useful lessons and enlightenment for the development of China’s securities industry.