股票、债券、证券市场是市场经济条件下资金运作的重要形式,也是市场经济的重要特征。在计划经济体制下,特别是在新中国成立最初的几十年间,这些都被认为是资本主义的罪证而加以诛伐的。改革开放以后,中国经济的发展逐步同国际接轨,建设社会主义市场经济体制成为不以人的意志为转移的经济发展趋势,中国的证券市场也便应运而生。本文作者作为中国证券市场的第一批参与者之一,亲身经历了这十年间中国证券市场从无到有、从小到大的发展过程,目睹了证券市场发展过程的曲折、动荡以及证券业的种种变迁。 Stocks, bonds and securities markets are an important form of capital operation under market economy conditions and also an important feature of market economy. Under the planned economic system, especially during the first few decades after the founding of New China, these were all considered as guilty evidence of capitalism. Since the reform and opening up, China’s economic development has gradually become in line with the international community. Building a socialist market economic system has become an economic trend that does not depend on the will of the people. China’s securities market has emerged as the times require. As one of the first participants in China’s securities market, the author of this article has personally experienced the development of the stock market in China from scratch, from small to large in the past ten years and witnessed the twists and turns of the securities market and the turmoil in the securities industry Various changes.