在昨日举行的“2013网易经济学家年会”上，与会人士围绕资本市场的发展等话题发表了见解。他们表示，如果能打造一个更加健康、有效的资本市场，未来十年我们会收入倍增；如不从机制上、体制上改变，我国资本市场很难健康发展。

In yesterday's"2013 netease economists annual meeting"on,Attendees around the development of capital market such as topic published opinions.They say,If you can make a more healthy/Effective capital market,The next ten years we will income multiplier;If not from mechanism/System change,China's capital market is difficult to healthy development.

　　在圆桌对话环节，春华资本创始人兼董事长胡祖六称，资本市场其实是中国整体改革很重要的一个环节。资本市场乃至于整个金融体系的改革，包括银行都是关系到国家整个社会有限资源能否最高效率配置，提高生产率，从而使经济可持续发展的。

In the round table dialogue link,Spring founder and chairman of the board of directors HuZuLiu capital said,Capital market is actually China's overall reform is an important link.Capital market even the entire financial system reform,Including bank is related to the whole society limited resources can be the highest efficiency configuration,Increase productivity,So that the sustainable development of economy.

　　他指出，我国的资本市场20多年来，从规模和量方面来看发展很快，同时，大型国企经过重组、改制、上市等，也起到了很大的推动作用。但他同时也指出，IPO、发债等需要排队、审批，这就使得资本市场的融资功能没有得到很好的发挥。在信息披露、投资者保护方面也做得不够。一个成熟、完善、透明、运作良好的市场，它的资产价格，无论是股票还是债券，确实应该和企业的盈利能力、价值创造能力呈现高度的正相关，但目前我国的市场还存在很多投机现象。

He pointed out that,China's capital market for more than twenty years,From the size and quantity in terms of development soon,At the same time,Large state-owned enterprises after restructuring/restructuring/Listing, etc.,Also play a big role.But he also pointed out,IPO/FaZhai etc need to queue/Examination and approval,This makes the capital market financing function has not been very good play.In the information disclosure/Investor protection is not doing enough.A mature/perfect/transparent/Good market operation,Its asset prices,Whether stock or bond,Indeed, it should be and enterprise's profit ability/Value creation ability appear to be highly positive correlation,But at present our country market there are a lot of speculative phenomenon.

　　“如果我们能打造一个更加健康、有效的资本市场，未来十年我们会收入倍增，从中等收入水平国家进入高等收入水平国家的把握就更大。”胡祖六表示。

"If we can make a more healthy/Effective capital market,The next ten years we will income multiplier,Which countries in income level higher income level national master is bigger."HuZuLiu said.

　　上交所基金与衍生品部总监刘逖在“资本市场怎样才能更市场”分论坛上表示，放开IPO不审，大量的企业包括可能作假的企业也会包装上市，投资方因为弱难寻维权机制，法律虽有规定，但很多的法律可能落实不到要害。

ShangJiaoSuo fund and derivatives department director liu Ti in"How can the capital market more market"Points on the BBS said,Let go of IPO not careful,A large number of enterprise including the possibility of false enterprise will packaging listed,Investors because of weak is hard to find the rights protection mechanism,Although the law has a regulation,But a lot of law may not carry out the key.

　　“处罚特别轻，加上一些法律的基本制度还没有，投资方相当弱，这种情况下完全放开可能会有问题。”刘逖表示。

"Punishment special light,Plus some of the basic law system is not,Investors is quite weak,This case completely let go there may be a problem."Liu Ti said.

　　原全国人大财经委办公室副主任王连洲表示，如不从机制上、体制上改变，我国的资本市场很难健康发展。他同时提出，要让市场去选择哪些企业值得投资，哪些企业不值得投资。

The National People's Congress deputy director of the office of the CaiJingWei WangLianZhou said,If not from mechanism/System change,In China's capital market, it is difficult to healthy development.He also put forward,To let the market to choose which enterprise is worth the investment,What enterprise is not worth the investment.