2003年的上市公司总市值正处于黎明的前夜，高速发展时代的蓝图正在酝酿。从2003年到2011年，上市公司总市值从4.2万亿元壮大至21.5万亿元。激动人心的数据背后，伴随着资本市场内在机制的改革和上市公司成分的改变。中国股市已从当年与实体经济若即若离的小舰艇，发展成为实体经济保驾护航的航母群，真正成为了国民经济的“晴雨表”。

2003 years of listed company's total market value is in the eve of the dawn,In the age of high speed development blueprint was brewing.From 2003 to 2011,The total market value of listed companies from 4.2 trillion yuan to 21.5 trillion yuan and.Exciting behind the data,With the reform of internal capital market mechanism of listed companies and the change of composition.China's stock market has from the real economy, which has always so dominated with small naval vessels,Develop into the real economy of the escort carrier group,Really become the national economy"barometer".

　　2004年2月，国务院出台“关于推进资本市场改革开放和稳定发展的若干意见”（国九条）。“国九条”的颁布，确立了证券市场的重要地位，为证券市场注入了强劲的发展动力。2004年5月，中小企业板开启。2005年，证监会启动股权分置改革。2006年，修订后的《证券法》正式实施。

In February 2004,The state council has rolled out"On promoting the capital market reform, opening up and stable development certain opinions"(Nine countries)."Nine countries"The promulgation of the,Established the important status of the securities market,For securities market into the strong power of development.In May 2004,Small and medium-sized enterprise board open.In 2005,,Securities regulatory commission start share-trading reform.In 2006,,revised[Securities law]Formal implementation.

　　随着股权分置改革的深入和宏观经济高速增长带来的企业盈利提升，中国股市开始飞速发展。股市总市值从2005年7月份的3.1万亿元一路走高，到2007年末股权分置改革基本完成时已超过32万亿元。这期间，一大批关系到国计民生的大型龙头企业进入证券市场，使得股市与宏观经济的关系更加紧密，也使得投资者能够分享到经济发展的成果。

With the deepening of the reform of non-tradable shares and macro high-speed economic growth enterprise profit promotion,China's stock market began to rapid development.The stock market total market value from 2005 in July 3.1 trillion yuan go all the way high,To the end of 2007 equity separation reform basic completed more than 32 trillion yuan.During this,A large number of related to the people's livelihood large leading enterprises into the securities market,Make the stock market and macro economic relations more closely,Also make investors can share the results of economic development.

　　2008年开始，股市进入调整期，中国股市“新兴加转轨”的特征引发有识之士的思考。2009年10月，创业板首次开始交易。2010年3月，证券公司融资融券业务正式推出。同年4月，股指期货正式上市交易。中国资本市场从此有了做空机制，也充分表明管理层完善市场功能、提升市场质量的勇气和决心。

2008 start,The stock market into the phase of adjustment,China's stock market"Emerging and transition"The characteristics of the cause of thinking.In October 2009,Gem began trading for the first time.In march of 2010,A securities company margin business officially launched.In April,Stock index futures officially listed transactions.China's capital market from now on have shorting mechanism,Also fully shows that management perfect marketing function/Promoting the market quality of courage and determination.