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| 文章编号：1672-3104(2010)05-0083-05 |
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中国近代证券市场风潮频发的原因及其警示 |
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孙建华 |
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（中央财经大学金融学院，北京，100081） |
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| 摘 要： 19世纪60年代末，中国逐渐形成了二元结构的证券市场。一方面，证券市场的发展为晚清至民国时期的产业融资和财政筹款提供了便利，另一方面证券市场风潮的频仍爆发及证券市场交易重心的变化，又削弱了证券市场支持产业发展的金融功能，给经济和社会的稳定带来了伤害。总结近代中国证券市场风潮爆发的成因，以史为鉴，有助于政府采取措施来规范我国股份公司和证券市场的发展，完善证券市场的监管，防范和控制金融风险。 |
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| 关键词： 近代中国；证券市场；证券市场风潮；金融风险 |
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The Causes and Its Warning of Securities Market Unrest in
Chinese Modern Times |
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SUN Jian-hua |
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（School of Finance, The Central University of Finance and Economics, Beijing 100081, China） |
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| Abstract: China has gradually become a securities market of binary structure in the late 1860s.On the one hand, the development of the securities market offered convenience to estate financing and financial fund-raising during the late Qing dynasty to the Republic. On the other hand , the outbreak of turmoil of the securities market and the varying of transactions core of the securities market undermined the financial function of securities market supporting industrial development, brought injury to the economic and social stability. Summary of the reasons of securities market unrest in modern China and to learn from history, will help to the government adopting measures to regulate the development of stock corporate and the securities market, improve securities market regulation, prevent and control financial risks. |
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Key words: modern times; securities market; supervision; unrest; causes; warning |
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