关于拓展我国券商融资渠道的分析与思考

在对我国券商8种融资主渠道(增资扩股、发行中长期债券、上市发行股票、国债回购、股票质押贷款、银行间同业拆借、短期金融券和资产管理业务等)进行分析的基础上,提出从提高券商信用、创新金融工具、建立证券金融公司、推动券商间战略重组等4个方面消除券商融资障碍、进一步拓展融资渠道的对策建议。

A consideration of expanding financing channels of China's securities dealers

Based on analysis of eight main financing channels of China's securities dealers,such as capital increase and share expansion,issuing the mid-and-long-term bonds,going list and issuing new stocks,TB repurchasing,stock mortgage loan,inter-bank offer,short term financial notes,assets management,etc.,this paper provides some suggestions on removing financing obstacles of securities dealers and expanding financing channels in four aspects,that is,improving credit of securities dealers,innovation of financial tools,establishing securities finance company,and promoting the strategic restructuring among the securities dealers.