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    北京证券交易所:构建高水平金融开放新格局

    摘要

    推动更高水平金融开放,既是当前金融业自身发展的需要,也是深化金融供给侧改革、实现经济高质量发展的要求。北京证券交易所(以下简称“北交所”)以服务专精特新类企业为目的,并通过其独特路径实现构建高水平金融开放新格局。北交所的建立将持续吸引国外创投基金投资中国高精特新企业、促进合格境外投资者参与资本市场交易,增强中国资本市场的国际化程度。北交所组成了多层次资本市场的基本框架,并为破解企业创新困境提供了基于高水平金融开放的改革方案,为进一步实现高水平金融开放新格局做了准备。北交所最终的成功落地离不开高水平金融开放的政策机制联动,其成功实践了高水平金融开放的中央—地方层面的具体政策联动路径。北交所由于其独特的服务对象和金融机制设计上的后发优势将成为资本市场改革的又一重要里程碑。

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    Abstract

    Promoting a higher level of financial openness is not only the need for the current development of the financial industry but also the requirement for deepening the financial supply-side reform and achieving high-quality economic development. The Beijing Stock Exchange aims to serve the type of Specialized,Refinement,Differential,and Innovation(SRDI)enterprises,and achieves a new pattern of high-level financial openness through its unique path. The establishment of the Beijing Stock Exchange will continue attracting foreign venture capital funds to invest in Chinese SRDI enterprises,promote the participation of qualified foreign investors in capital market transactions,and enhance the internationalization of China’s capital market. The Beijing Stock Exchange constitutes the basic framework of the multi-level capital market and provides a reform plan to solve the dilemma of corporate innovation based on high-level financial openness,and prepares for the further realization of a new pattern of high-level financial openness. The ultimate success of the Beijing Stock Exchange is inseparable from the linkage of policies and mechanisms to achieve high-level financial openness,and it has successfully practiced the specific central-local policy linkage path of high-level financial openness. The Beijing Stock Exchange will become another important milestone of the capital market reform due to its unique service targets and the late-mover advantage in financial mechanism design.

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    作者简介
    江萍:江萍,金融学博士,对外经济贸易大学国际经济贸易学院金融学教授,主要研究方向为资本市场、公司治理、IPO、风险投资与私募股权、金融科技、“一带一路”投融资。
    袁铂宗:袁铂宗,对外经济贸易大学博士研究生,主要研究方向为跨国企业与公司金融。
    郑晓佳:郑晓佳,管理学博士,对外经济贸易大学国际经济贸易学院讲师,主要研究方向为数字经济。
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