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中国香港筹建创业板市场，历经了十二载艰辛之旅。早在１９８６年的时候，香港联交所就提出这一构想，并成立了有关工作小组，联交所还于翌年向港府呈交报告，建议成立“第二市场”。但就在这份报告提交后不久，股灾发生了，港府的所有注意力都集中于较为应急的问题，如联交所改革等等，而这份报告也就搁浅下来，一直到１９９８年１０月，董建华在第二份施政报告中再度强调建立创业板的重要性和急迫性。他指出：“该市场主要为扶植有潜力的小型公司和创新科技公司而设。”联交所值此也宣布： １９９９年第四季度，将推出创业板市场。创业板市场的建立，对中国的经济影响将是十分深远的，据不完全统计，大陆目前现有七百多万家中小民营企业，其中部分企业已从劳动密集型发展成为技术型企业，已成为国家未来经济增长的一股巨大动力，这些企业若能在创业板上市，不仅有助于筹集资金发展高附加伍产品，也有助于加强香港与大陆的经济联系。本刊记者专此就香港创业板有关问题采访了我国资深金融专家张谦博士。张博士是新中国成立后培养的第一代经济学博士，他多年从事金融研究、金融管理，曾参加过我国近年宏观调控、人民银行改革等研究工作。
Hong Kong, China to build a GEM market, after 12 hardships trip. As early as 1986, the Hong Kong Stock Exchange proposed this idea and set up a working group. The Stock Exchange also submitted a report to the Hong Kong Government in the following year, proposing the establishment of a “secondary market.” However, shortly after the report was submitted, the stock market disaster took place. All the government’s attention has been focused on the more emergency issues such as the Stock Exchange’s reform. The report ran aground until 1998 In December, Tung Chee Hwa re-emphasized the importance and urgency of establishing a GEM in his second policy address. He pointed out: “The market is mainly set up for the potential of small companies and innovative technology companies. ” The Stock Exchange also announced that: the fourth quarter of 1999, will launch the GEM. According to incomplete statistics, there are now over 7 million small and medium-sized private-owned enterprises in the Mainland, some of which have been transformed from labor-intensive to technology-based ones. It will be a great impetus for the country’s future economic growth. If these enterprises are listed on the GEM, they will not only help raise funds for the development of high-added products but also help to strengthen Hong Kong’s economic ties with the Mainland. Our correspondent specifically interviewed Dr. Zhang Qian, a senior financial expert in our country, on the issue of Hong Kong GEM. Dr. Zhang was the first doctor of economics trained after the founding of New China. He has been engaged in financial research and financial management for many years and has participated in the research on the macro-control and the people’s bank reform in recent years in China.