自1993年第一部资本市场监管的行政法规《股票发行与交易管理暂行条例》颁布实施以来,中国资本市场法治建设已经走过了20年的历程。遵循邓小平同志对发展股票市场“允许看,但要坚决地试”的要求,这种“摸着石头过河”的改革创新精神始终贯穿于中国资本市场的发展进程。法治建设则是伴随着这一进程,从最初的“治乱”到逐步引 Since the issuance and implementation of the Provisional Regulations on the Administration of Stock Issuance and Trading, the first administrative regulation on capital markets in 1993, the legal construction of China’s capital market has gone through 20 years of history. Following Deng Xiaoping’s call for the development of the stock market “to allow inspection but resolutely try”, the reform and innovation spirit of “crossing the river by feeling the stones” runs through the development of China’s capital market. The construction of the rule of law is accompanied by this process, from the initial “chaos” to gradually cited