论文部分内容阅读
2004年伊始,破产传言已久的南方证券被中国证监会和深圳市政府联合实施行政接管。南方证券和君安证券、大连证券、鞍山证券、新华证券等一道成了中国“问题券商”的典型。虽然这些“问题券商”形成原因各有不同,但反映出的问题却是我国证券公司在发展初期所共有的。这也进一步折射出当前我国证券行业所暗含的各种不稳定性因素和系统性风险。如何认识这些问题,并在实践中逐步消化解决,是保证我国证券行业持续健康发展的基础。
At the beginning of 2004, the bankruptcy and long-awaited Southern Securities were jointly administered by China Securities Regulatory Commission and Shenzhen Municipal Government. Nanfang Securities and Jun’an Securities, Dalian Securities, Anshan Securities, Xinhua Securities, etc. have become a typical “problem broker” in China. Although the formation of these “problem brokers” varies from one source to another, the problems that are reflected are common to the initial development of China’s securities companies. This further reflects the current instability in China’s securities industry and the various systemic risks. How to understand these problems and gradually solve them in practice is the basis for ensuring the sustained and healthy development of China’s securities industry.