⊙记者 马婧妤 郭玉志 ○编辑 梁伟

⊙ reporter MaJing fung GuoYuZhi ○ LiangWei editor

　　全国人大财经委员会副主任委员吴晓灵昨日在“金融街论坛”上表示，目前我国尚未建立做市商制度，股票定价机制远未完善。发展多层次资本市场，关键是要建立做市商制度。如果建立了一个无缝对接的多层次资本市场，IPO股价畸高的现象就可以得到适当的克制。

The financial committee of the National People's Congress vice director of WuXiaoLing yesterday in"Financial street BBS"Said on,At present our country has not establish marketmaker system,Stock pricing mechanism is far from perfect.Multi-level capital market,The key is to establish marketmaker system.If established a seamless docking multi-level capital market,IPO share price excessively high phenomenon can get proper restraint.

　　吴晓灵表示，目前我国已经形成了比较全面的金融法律体系，但是由于在立法的时候在机构方面考虑得比较多，对于金融功能考虑得较少，因而未来修法应在此方面进行改进。

WuXiaoLing said,At present our country has formed a comprehensive financial legal system,But because of the legislation in agency into consideration more,For financial function considered less,And thus the future repairing method should be improved in this aspect.

　　“以机构监管为主的监管格局往往成为制定法律规范的障碍，应该逐渐改为以功能监管为主，机构监管为辅的原则。”吴晓灵指出，未来几年应该重点修订《中国人民银行法》、《商业银行法》、《证券法》、《信托法》等四部法律，修法的指导原则应该是功能立法、行为监管，以规范市场秩序为目的。

"With the supervision of the supervision institutions mainly pattern often become the obstacle for legal norm,Should gradually changed to give priority to with function supervision,An ounce of prevention is worth a supervision mechanism of the principle."WuXiaoLing pointed out that,The next few years should focus on revision[The people's bank of China]/[Commercial Banks]/[Securities law]/[Trust law]And so on four department law,Practice the guiding principle of the legislation should be a function/Behavior regulation,For the purpose to standardize market order.

　　在《证券法》的修订方面，吴晓灵认为，目前我国法律对证券的表述过于狭窄，不利于形成市场秩序，不利于各类权益的证券化，从而限制了资本市场的发展。建议对证券广义化定义，这样既可以极大地解放市场上通过证券融资的需求，也可以在证券上实行统一的监管。

in[Securities law]Revision aspects,WuXiaoLing think,At present our country laws on the expression of securities is too narrow,To form the market order,Against all kinds of rights and interests of the securitization,Thus limits the development of capital market.Suggestions on securities generalized definition,This can greatly liberating the market through the securities financing needs,Also can be in the securities shall be subject to unified supervision.

　　与此同时， 吴晓灵认为，当前资本市场利益巨大，虚假肆意操纵市场行为难以杜绝，如果监管手段不足，违规成本过低就难以形成抑制的力量。

meanwhile, WuXiaoLing think,The current capital market enormous benefit,False is wanton market manipulation behavior is difficult to eliminate,If insufficient supervision means,Illegal low cost it will be difficult to form the power of inhibition.