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证券市场国际化是指以证券形式为媒介的资金在国际上自由流动,即证券发行、证券投资、证券交易以及证券市场结构等超越国界,实现国际间的自由化。从一国的角度看,证券市场国际化包括以下三方面内容:一是外国政府、企业、金融机构在本国发行证券和本国政府、企业、金融机构在外国及国际证券市场上的证券发行,这是国际证券筹资;二是国外投资者对本国证券的投资和本国投资者对外国的证券投资,即国际证券投资;三是一国法律对外国证券业经营者(包括证券的发行者、投资者、中介机构)进出本国证券业自由化的规定和本国证券业经营者向外国发展,这是证券商及其业务的国际化。
Internationalization of the securities market refers to the free movement of funds in the form of securities through the international community. That is, securities issuance, securities investment, securities transactions and the structure of the securities market go beyond boundaries and international liberalization is achieved. From the perspective of a country, the internationalization of the securities market includes the following three aspects: First, the securities issued by foreign governments, enterprises and financial institutions in their own countries and the securities issued by domestic governments, enterprises and financial institutions in foreign and international securities markets, Is the financing of international securities; second is foreign investors to their own securities investment and domestic investors to foreign securities investment, that is, international securities investment; Third, a country’s laws on foreign securities operators (including securities issuers, investors , Intermediaries) into and out of the country’s securities industry liberalization and the domestic securities industry operators to foreign development, which is the internationalization of securities firms and their business.