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中国证券市场上一轮大牛市始于1999年的 “5．19”行情,上证综指从1,047点起爆发了“井喷式” 上涨,在2001年6月摸高2,245点后一路滑落,迄今 为止已经历了四年多的熊市。其间,2003年10月,十 六届三中全会提出“大力发展资本市场”,将中国政 府对资本市场的重视提到了前所未有的高度。随后 不久,国务院发布《关于推进资本市场改革开放和稳 定发展的若干意见》(俗称“国九条”)。按照“国九条” 的要求,证券市场推出了全方位的改革措施,内容涵 盖新股发行制度及融资规模、股权分置、券商融资与 规范、合规资金入市、资本市场税收、QDII等方方面 面,决心和力度前所未有,整个证券市场全新的制度
A big bull market in China’s securities market started with the “5.19” market in 1999. The Shanghai Composite Index broke “blowout” from 1,047 points and slipped to 2,245 points in June 2001. So far, Has experienced a bear market more than four years. In the meantime, in October 2003, the Third Plenary Session of the 16th CPC Central Committee proposed “vigorously develop the capital market” and referred to the unprecedented attention given by the Chinese government to the capital market. Shortly thereafter, the State Council promulgated “Several Opinions on Promoting the Reform, Opening up and Stable Development of the Capital Market” (commonly known as “the nine nationalities”). In accordance with the requirements of “Article 9 of the State”, the securities market launched all-round reform measures, covering various aspects such as IPO system and size of financing, split share structure, financing and regulation of brokerage firms, market entry of compliant funds, taxation of capital markets, QDII and others And unprecedented efforts, the entire securities market a new system