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资本市场国际化是金融全球化发展的必然趋势,开辟国际板是我国证券市场顺应历史潮流的必然选择。由于我国资本市场处于“新兴加转轨”的发展阶段,证券法律制度还不完善,金融市场建设相对比较薄弱,因而,在设计国际板块相关法律制度时,借鉴资本市场相对成熟国家和地区的经验,显得尤为重要。就中国的实际情况而言,应该合理安排境外企业上市次序、科学设计CDR产品种类、妥善建立CDR定价机制,遵循渐进方式有序推出不同层次的CDR产品,从而保障CDR的顺利发行和交易。
The internationalization of capital market is an inevitable trend of financial globalization. Opening up an international board is the inevitable choice for our stock market to follow the historical trend. As China’s capital market is in the stage of “emerging and transition”, the legal system of securities is not yet perfect and the construction of financial markets is relatively weak. Therefore, when designing the relevant legal system of international plates, we should learn from the relatively mature countries and regions in capital markets Experience, it is particularly important. In terms of China’s actual situation, it is advisable to arrange the order of listing of overseas enterprises, scientifically design the types of CDR products, set up a CDR pricing mechanism and orderly introduce CDR products at different levels in a step-by-step manner so as to guarantee the smooth issuance and transaction of CDRs.