和讯网消息 11月16日，“以改革面对未来”为主题的第八届中国证券市场年会在北京钓鱼台国宾馆举行。来自政府部门、学术机构、上市公司的各方领导与专家学者出席了年会并就当前国际经济形势、国内经济转型路径、金融体系以及资本市场改革发展等问题展开讨论。上交所首席经济学家胡汝银在接受和讯网访谈时表示，上交所规划在2020年市值达到80万亿仅是美好的愿望而已。但是绝不能仅仅依靠发新股来实现。

HeXunWang news on November 16,"To face the future reform"As the theme of the eighth China securities market annual meeting held in Beijing diaoyutai state guesthouse.From the government department/Academic institutions/The listed company's leaders and experts and scholars attended the annual meeting and the current international economic situation/The domestic economic transformation path/Financial system reform and capital market development, discuss problems.ShangJiaoSuo chief economist HuRuYin in HeXunWang accept interview said,ShangJiaoSuo planning in 2020 to 80 trillion market value is only good wish it.But never can only rely on the hair of new shares to achieve.

　　今年上半年，前任上交所总经理张育军在公开场合表示，在上交所的十年规划中，到“十二五”期末，上交所每年的交易量达到100万亿元，争取市场规模扩大一倍，其中股票市值大约在35万亿到40万亿元，力争成为全球第二大交易所。到2020年希望能够再增加50%，股票市值能有70万亿到80万亿元。

In the first half of this year,The former ShangJiaoSuo general manager ZhangYuJun said in public,In ShangJiaoSuo ten years planning,to"1025"The final,ShangJiaoSuo annual sales exceeding 100 trillion yuan,Fight for market scale expanding one times,Stock market value of about 35 trillion to 40 trillion yuan,Strive to become the world's second largest exchange.By 2020 hope can again increased by 50%,The stock market value to have 70 trillion to 80 trillion yuan.

　　此话语一出，令整个市场大为震惊。因为市值的增长无外乎通过股市的自然上涨和新股发行。根据网友的估算，如果仅仅依靠新股发行的手段来增加市值，今后的八年内上交所大约每年将要发行500多只新股。这对于整个市场的大抽血几乎是灾难性。而如果通过股市的上涨来实现80万亿的目标，同时考虑到每年新增股票的因素，上证指数需要涨到2——3倍才能实现。这需要巨大的资金来推动股市的上涨，大约需要新增资金53万亿资金，预计将占2020年居民存款的70%。

This discourse a,To make the market shocked.Because of the growth of the market outside through the stock market rise and new issues.According to the estimate of the net friend,If only to depend on the new shares issued means to add value,The eight years ShangJiaoSuo about each year more than 500 new shares will be issued only.This to the entire market big blood is almost catastrophic.And if through the stock market rise to achieve the 80 trillion target,At the same time, considering the factors of stock annually,The Shanghai index need to rise to 2-3 times to achieve.This requires huge funds to promote the rise in the stock market,About need to add capital of 53 trillion funds,In 2020 is expected to account for 70% of the residents' deposits.

　　在第八届市场资本论坛举行的间隙，和讯网向胡汝银询问“上交所将如何实现2020年80万亿市值的规划？”。胡汝银迟疑之后，略带微笑的回答：“这仅仅是一个美好的愿望而已，但是绝不能仅仅依靠发新股来实现。”

In the eighth market capital BBS at the gap,HeXunWang HuRuYin to ask"How to realize the ShangJiaoSuo will 2020 80 trillion market value of planning?".HuRuYin after hesitation,With a smile answer:"This is only a nice wish it,But never can only rely on the hair of new shares to achieve."

　　在11月16日举行的财新年会上，胡汝银表示，“到目前为止，我们上市公司数量不及股份公司总数的十分之一。且远远落后于国外的上市公司数量”。他举例说，2011年底国内上市公司数量为2432家，印度是5112家，日本3991家，加拿大3932家，西班牙是3421家，我们远远落后于西班牙这样的经济体。

On November 16th, wealth at the New Year,HuRuYin said,"So far,We listed company quantity less than one over ten of the total shares of the company.And far behind foreign listed company quantity".He said one example,By the end of 2011 the number of domestic listed company for 2432,India is 5112,Japan 3991,Canada 3932,Spain is 3421,We far behind Spain such economies.

　　“不仅上市公司数量太少，近年来上市速度也比较缓慢。”胡汝银同时指出，“2003年以来9年之内，我们和纽交所比较，沪深交易所只有1180余家新上市企业，美国两个交易所有2050家。”

"Not only the listed company quantity too little,In recent years listed speed is slow."HuRuYin also pointed out,"Nine years since 2003,We and the nyse comparison,Shanghai and shenzhen exchange only more than 1180 new listed enterprise,The United States two trading all 2050."

　　胡汝银进一步指出，与相对较少的上市公司数量相对应的，国内股票市场的退市数量很少。2003年到2011年之间，沪深两个交易所只有50多家公司退市，而纽交所有1330家，纳斯达克有1385家公司退市，伦敦交易所则有3068家。

HuRuYin further points out,And relatively few listed company quantity corresponding,The domestic stock market delisted few in number.Between 2003 and 2011,Shanghai and shenzhen two exchange only more than 50 companies delisted,And new hand in all 1330,Nasdaq has 1385 companies delisted,The London exchange there were 3068.