目前,全球资本市场纷纷进入大幅度调整之中,我国资本市场也处在严重的困难时期。近年来,中国宏观经济面连续增长,但股票市场这两年却呈快速下降势态。制约我国资本市场生存和发展的根本因素是什么?除了我们与成熟市场和新兴市场共同存在的信息透明度和公司赢利能力因素以外,还存在所谓特殊的“国情因素”,即股权三分之二不流通与三分之一流通的分裂的市场结构,这种股权结构成为我国资本市场地雷阵,阻碍市场运行机制,这是至关重要的,也是我们最为关注的。最近召开的“第七届中国资本市场论坛”会上群集了各方专家,给我国资本市场急需解决的问题把脉,这是我们将几位专家的意见进行了摘要,供读者参考。 At present, the global capital markets have entered a drastic adjustment, and the capital market of our country is also in a period of severe difficulties. In recent years, China’s macro-economy has been growing continuously, but the stock market has been declining rapidly in the past two years. What are the fundamental factors restricting the survival and development of China’s capital market? Apart from the information transparency and corporate profitability factors that we coexist with mature and emerging markets, there are so-called special “national conditions”, that is, two-thirds Circulation and the flow of one-third of the split market structure, which become the capital market in our country mine array, hindering the operation of the market mechanism, which is crucial, but also our most concern. The recently held “Seventh China Capital Market Forum” has gathered experts from all walks of life to bring about the urgent problems to be solved in the capital market in our country. This is a summary of the opinions of several experts for readers’ reference.