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在证券市场中,投资者和上市公司之间存在着信息不对称的问题。为了维护市场秩序和保护投资者的合法权益,引入证券监管者,建立与信息披露相关的投资者权利保护制度显得至关重要。由于中国证券市场形成与发展的特殊背景,证券监管者除了要保护投资者的合法权益,还担负着帮助国有企业融资解困的重任。在证券市场发展的初期,“保护投资者”和“帮助国企解困”这两个目标存在着此消彼长的关系,证券监管者想要实现一个目标就必须
In the stock market, there is a problem of information asymmetry between investors and listed companies. In order to safeguard the market order and protect the legitimate rights and interests of investors, the introduction of securities regulators, the establishment of information disclosure and investor rights protection system is essential. Due to the special background of the formation and development of China’s securities market, securities regulators not only need to protect the legitimate rights and interests of investors but also play an important role in helping state-owned enterprises to solve their financing difficulties. In the initial stage of the development of securities market, the two goals of “protecting investors” and “helping state-owned enterprises to solve difficulties” are exacerbated and the securities regulators want to achieve a goal must