2003年,中国证券市场似乎越来越被“边缘化”今年,整个股票成交额持续走低,10月份只有1599.5亿元。中国资本市场何去何从现实虽然严酷,但中国证券市场监管当局的思路却日见清晰。中国证监会主席尚福林2003年提出了要坚持“改革的力度、发展的速度与市场的承受度相结合”的“三度”主张。而出台的“严禁挪用客户交易结算资金,严禁挪用客户委托管理的资产,严禁挪用客户托管的债券”,被业内称为三条“铁律” In 2003, the Chinese securities market seemed more and more “marginalized” this year. The entire stock turnover continued to decline, only 159.95 billion yuan in October. Where to go from China’s capital markets Although the reality is harsh, but the idea of ​​China’s securities market regulatory authorities are increasingly clear. Shang Fulin, chairman of China Securities Regulatory Commission, put forward in 2003 a “third degree” of advocating “the intensity of reform, the speed of development combined with the market’s tolerance.” The promulgation of the “forbid misappropriation of customer transaction settlement funds, non-misappropriation of clients entrusted with the management of assets is prohibited misappropriation of customer-managed bonds” by the industry as the three “iron law”