我国证券投资基金市场发展现状及存在的问题.pdf

探索
与争鸣
V viewpoints
我国证券投资基金市场发展现状
及存在的问题
China’s securities-investing fund market: Status quo and existing problems
陈晓虹刘肯杨婕
作者简介
陈晓虹,中国人民银行上海总部金融市场管理部
刘肯,中国人民银行上海总部金融市场管理部
杨婕,中国人民银行上海总部金融市场管理部
Authors
Chen Xiaohong, Financial Market Management Department, the PBC Shanghai Head Office
Liu Ken, Financial Market Management Department, the PBC Shanghai Head Office
Yang Jie, Financial Market Management Department, the PBC Shanghai Head Office
摘要
基金市场是我国资本市场的重要组成部分,而证券投资基金则是我国资本市场中最为重要的机构投资者。揭示基金行业所存在的问题
并采取措施予以有效的解决不仅关系到该行业未来的发展,还对中国资本市场的稳定至关重要。文章回顾和分析了我国基金行业的发展历
程及其现状,指出了其在发展过程中所暴露出的若干问题,并针对所存在的问题提出了政策措施建议。
Abstract
The fund market is an important integral part of China’s capital market, and securities-investing funds are the most significant institutional
investors in the capital market. Identifying problems in the fund industry and finding effective solutions is vital for the development of the
industry and the stability of China’s capital market. This paper dwells on the history and status quo of the fund industry in China, points
out the problems that have emerged in the development process, and finally, puts forward policy mendations for coping with these
problems.
一、我国基金市场的发展历程交易所的上市形成了投资基金市场的雏形。十多年来,
上世纪 70 年代美国货币市场基金崛起以来,国我国基金市场从无到有、从小到大,推出了当今成熟
自际上投资基金进入了一个迅速发展的阶段。目市场绝大多数的主流基金产品,从产品结构到发展规
前,全球投资基金业已经发展成为与银行业、保险业模