中国证券市场的发展大致可以分为三个阶段:“奠基阶段”、“市场化阶段”和“国际化阶段”。在中国证券市场发展的第一个十年里,我们已经基本完成了奠基阶段。在这个阶段,我们以渐进式改革的方式,在中国高度集中的传统计划经济体系上构建了一个初具规模的证券市场,并为将来的市 The development of China’s securities market can be roughly divided into three stages: “foundation stage”, “marketization stage” and “internationalization stage”. In the first decade of the development of China’s securities market, we have basically completed the foundation stage. At this stage, we adopted a gradual reform approach to building a large-scale securities market in China’s highly centralized traditional planned economy.