我国资本市场是一个新兴加转轨的市场。所谓“新兴”,是指我国资本市场的发育成长的历史还不长,带有明显的“发展中”特点;所谓“转轨”,是指消解计划机制的影响还是我国资本市场发展中的一项急迫而艰巨任务,其中包括改革审批制、改变运用行政机制“调控”市场运行、实现股份全 China’s capital market is an emerging and transitional market. The so-called “emerging” refers to the history of China’s capital market development is not long, with a clear “developing” characteristics; the so-called “transition” refers to the impact of the resolution plan mechanism or the development of China’s capital market Urgent and arduous tasks, including the reform of examination and approval system, change the use of administrative mechanisms to “regulate” the operation of the market to achieve full stock