History
CapitalMarket
NatureThenatureofthesocialistcapitalmarketisdifferentfromthatofthecapitalistcapitalmarket.Thecapitalistcapitalmarketmediatesthesupplyanddemandofcapitalandmobilizesallidlecapitalandsavingstodevelopcapitalistproductionandcirculation,sothattheexpansionofproductionscaleisnolongerrestrictedbycapitalists'owncapital.Itservestopromotecapitalconcentrationandacceleratecapitalaccumulation.of.Thesocialistcapitalmarketdoesnothavethenatureofexploitinglabor.Itisameansofraisingfundsforsocialistconstructionandservesthedevelopmentofthesocialisteconomy.
FunctionThesocialistcapitalmarkethasthefollowingfunctions:
①Raiseandusesocialfundstosolvethelackofconstructionfunds.Withtheprogressofeconomicsystemreformandthedevelopmentofproduction,social,corporate,andpersonalcapitalandcurrencyincomehavebeenincreasing.Banks,creditunions,andtheissuanceofstocksandbondshavebeenusedtoexchangefreecurrencyfundsinsociety.Thecurrencyisconcentratedtomeetthefinancialneedsofeconomicconstruction.
②Throughinter-banklending,promotethehorizontalfinancingoffunds,adjustthesurplusandshortageoffundsamongvariousfinancialinstitutions,acceleratecapitalturnover,andimprovetheefficiencyofcapitaluse.
③Facilitatetheflowoffunds.Inaplannedcommodityeconomy,tochangethesituationthatsomecommoditiesareinshortsupplywhileothersareoverstockedandunsalable,itisnecessarynotonlytoguideeconomicleverage,butalsotohaveareasonableflowofcapitalandotherproductionfactors.Thecapitalmarketmediatescapitalsupplyandcapitaldemand,channelingcapitalflowchannels,andregulatingtheeconomicactivitiesofvariousdepartments,sothatthefundsoftheoversupplydepartmentsflowtothedepartmentswheredemandexceedssupply.
④Regulatecurrencycirculation.Thecapitalmarketallowsurbanandruralresidentstoparticipateinsavingsandinvestment,andconvertsthecurrencyinthehandsofresidentsintothefundsneededforconstruction,sothatpartoftheconsumptionfundsareconvertedintoproductionfunds,whichisanimportantmeansofregulatingcurrencycirculation.
Content
①Asafinancialintermediaryagency,banksmustnotonlyissueworkingcapitalloans,butalsofixedassetinvestmentloans.
②Adapttotheneedsofflexibleanddiversetransactionmethodsincommoditycirculation,allowcommercialcreditsalessuchasprepaymentoncredit,andsupportbilldiscountingandrediscountingthroughbanks.
③Carryoutinter-banklendingbetweenfinancialinstitutionstofacilitatemutualfinancing.
④Issuestocksandbonds.Somestocksarelistedandsomearenotlisted;stockholderscanbegovernmentsanddepartmentsatalllevelsrepresentingthecountry,canbemutualholdingofstocksbetweenenterprises,ortheycanbepurchasedbyindividualworkers.Inadditiontogovernmentbondsandtreasurybondsissuedbythestate,corporatebondscanalsobesoldbycorporatecompanies.
Inthecapitalmarket,whatistransferredisnottheownershipoffundsbuttherighttousefunds.Theinterestrate,asthepriceoftherighttousefunds,isanimportantmeanstoadjustthesupplyanddemandoffundsandregulatecurrencycirculation.Theinterestrateshouldbeflexibleandcapableoffloating,soastogivefullplaytotheeconomicleverageofinterestandbecomeameansofregulatingthecapitalmarket.