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UBC Theses and Dissertations
Securities regulation in China : a study of its path to market economy Yang, Xusheng
Abstract
The experiment currently underway in developing securities markets in China have met with initial success, although, as has been mentioned throughout this thesis, there are a considerable number of issues still to be addressed over time. Many of the issues will probably be resolved by trial and error as various participants in the market ~ the regulators, the exchanges, the intermediaries, the issuers and the investors ~ develop more experience. Central to the problem of securities regulation in China is that none of the Western-style corporate and securities frameworks proved to be the essential vehicle for private Chinese economic development that their creators had envisioned. In responding to this question, this thesis concludes that China's new securities program is a process and must be recognized as such. In this process, the transformation of a system, inclusive of all sectors, that is wholly based on state ownership to one that functions by the rules of the marketplace, takes time and effort. The US model may be useful in certain contexts, but China's securities regulation should adhere to an approach compatible with its culture and reflective of its distinct political system and the humiliating history of the last two centuries. Chinese people, after many rounds of debate extending over more than a century, have come to realize the tremendous need for, and potential benefits from, building a strong country in favor of the Western style democracy and mode of regulation. The pace and uncertainty of this unique transition frighten as many Chinese as they embolden. Whatever the Chinese are on the way to becoming, the following counsel have to be offered: Naixin. Patience. Xuyao shijian. It takes time.
Item Metadata
Title |
Securities regulation in China : a study of its path to market economy
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Creator | |
Publisher |
University of British Columbia
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Date Issued |
1997
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Description |
The experiment currently underway in developing securities markets in China have met with initial success, although, as has been mentioned throughout this thesis, there are a considerable number of issues still to be addressed over time. Many of the issues will probably be resolved by trial and error as various participants in the market ~ the regulators, the exchanges, the intermediaries, the issuers and the investors ~ develop more experience. Central to the problem of securities regulation in China is that none of the Western-style corporate and securities frameworks proved to be the essential vehicle for private Chinese economic development that their
creators had envisioned. In responding to this question, this thesis concludes
that China's new securities program is a process and must be recognized as such. In this process, the transformation of a system, inclusive of all sectors, that is wholly based on state ownership to one that functions by the rules of the marketplace, takes time and effort. The US model may be useful in certain contexts, but China's securities regulation should adhere to an
approach compatible with its culture and reflective of its distinct political
system and the humiliating history of the last two centuries. Chinese people,
after many rounds of debate extending over more than a century, have come
to realize the tremendous need for, and potential benefits from, building a
strong country in favor of the Western style democracy and mode of regulation. The pace and uncertainty of this unique transition frighten as many Chinese as they embolden. Whatever the Chinese are on the way to
becoming, the following counsel have to be offered: Naixin. Patience.
Xuyao shijian. It takes time.
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Extent |
6354839 bytes
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Genre | |
Type | |
File Format |
application/pdf
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Language |
eng
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Date Available |
2009-03-25
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Provider |
Vancouver : University of British Columbia Library
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Rights |
For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use.
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DOI |
10.14288/1.0087884
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URI | |
Degree | |
Program | |
Affiliation | |
Degree Grantor |
University of British Columbia
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Graduation Date |
1997-11
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Campus | |
Scholarly Level |
Graduate
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Aggregated Source Repository |
DSpace
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Item Media
Item Citations and Data
Rights
For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use.