【摘要】 近年来,在多层次资本市场的推动下,我国区域性股权交易市场得以快速发展。利用PEST模型对我国区域性股权交易市场的发展状况进行分析后发现:我国区域性股权交易市场发展主要存在宏观和微观两个层面的问题。宏观层面的问题主要包括行业监管制度尚不完善、区域性股权交易市场板块划分粗放、转板制度缺失;微观层面的问题主要包括企业挂牌成本相对较高、信息披露不充分、市场交易的流动性差、市场创新能力不足、金融风险较高。推动我国区域性股权交易市场发展,应统一监管制度,分层分特色设板管理,创新设立与不同资本市场对接的双向转板机制,构建企业挂牌业务全服务链,规范企业信息披露制度,加强合格投资者队伍建设,设计有针对性的金融产品,提高投资者金融风险认知水平。更多还原

【Abstract】 In recent years, with the promotion of multi-level capital market, China’s regional equity trading market has developed rapidly. After analyzing the development of regional equity trading market in China by PEST model, it is found that there are two main problems in the development of regional equity trading market in China: macro level and micro level. Macro level problems mainly include imperfect industry supervision system, extensive division of regional equity trading market plate, lack of transfer board system. Micro level problems mainly include that: the listing cost of enterprises is relatively high, the information disclosure is insufficient, the liquidity of market transactions is poor, the market innovation ability is insufficient, and the financial risk is high. To promote the development of China’s regional equity trading market, we should unify the supervision system, set up the management system by layers and characteristics, set up the two-way transfer mechanism connecting with different capital markets, construct the whole service chain of enterprise listing business, standardize the enterprise information disclosure system, strengthen the construction of qualified investors, design targeted financial products, and improve the level of financial risk cognition of investors.更多还原