加入WTO已经成为中国人的一个心理坐标,人们毫不迟疑地认为,中国更深刻的变化将来自于WTO:从经济体制到市场格局,从国外跨国公司的进入到中国的资本市场。这一切变化将直接影响我们的生活。随着入世的临近,跨国资本在重新谋划着自己在中国的未来,他们分析中国,解剖中国,希望抢得先机,在这个号称是21世纪最大的市场占有一席之地。在起伏和波折中,中国资本市场已经走过了10年的历程。回头看来,在资本市场发挥资源配置功能的同时,也继承了太多的从计划体制延续下来的“条条框框”,又承担了太多的本不应该担负的责任。尽管如此,10年资本市场的成绩仍然是骄人的。1000多家上市公司、5000多万股民,带来了社会投、融资观念的深刻变化。最近两年,来自中国管理层的一系列迹象表明,资本市场的幼稚期行将结束,一个崭新的时代即将来临。“用市场化的手段解决资本市场中存在的问题”已成为共识。此时,我们有必要重新认识一下成熟的美国资本市场的形态,再理智地审视一下中国资本市场的发展道路。为此,本刊再次专访美国联合资产管理公司董事、亚太区主管朱勇博士。 The accession to the WTO has become a psychological coordinate for the Chinese people. People have no hesitation in thinking that a more profound change in China will come from the WTO: from the economic system to the market structure, from the entry of foreign multinationals into China’s capital market. All these changes will have a direct impact on our lives. With the advent of accession to the WTO, transnational capitals are re-planning their future in China. They analyze China and dissect China in the hope of grabbing the upper hand and claiming to be the largest market in the 21st century. In ups and downs, the Chinese capital market has gone through 10 years of history. In retrospect, while capital resources are being deployed in the capital market, it inherits too many “regulatory frameworks” that have continued from the planning system and has assumed too many responsibilities that should not have been shouldered. In spite of this, the performance of 10-year capital markets is still impressive. More than 1,000 listed companies and more than 50 million shareholders have brought about profound changes in social investment and financing concepts. In the past two years, a series of signs from Chinese management show that the naive period of the capital market will come to an end and that a brand new era is coming. “Market-oriented solutions to problems in capital markets” have become the consensus. At this point, we need to re-recognize the maturity of the US capital market patterns, and then take a sensible look at China’s capital market development path. To this end, the magazine again interviewed United Asset Management Corporation Director, Dr. Zhu Yong, director of the Asia Pacific region.