精品文档---下载后可任意编辑中国股指期货的经济功能讨论中期报告摘要：股指期货是一种金融衍生品，其经济功能包括风险管理、价格发现与价格传递等。本文以中国股指期货为讨论对象，探讨其经济功能及其影响因素。通过对股指期货市场的实证分析，发现股指期货在中国的经济功能主要集中于风险管理方面，通过期货交易有效地降低了投资者在股票市场中的风险。在价格发现和价格传递方面，股指期货市场的影响相对较小。我们发现影响股指期货市场经济功能的因素包括政策因素、市场因素、投资者因素和机构因素等。最后，我们提出了进展中国股指期货市场的建议，包括加强政策调控、提供更多的交易工具、加强投资者教育和完善市场运营机制等。关键词：股指期货，经济功能，风险管理，价格发现，价格传递Abstract:Stock index futures are financial derivatives, and their economic functions include risk management, price discovery, and price transmission, etc. This paper takes Chinese stock index futures as the research object to explore its economic functions and influencing factors. Through empirical analysis of the stock index futures market, it is found that the economic functions of stock index futures in China are mainly concentrated in risk management, effectively reducing investors' risks in the stock market through futures trading. In terms of price discovery and price transmission, the influence of the stock index futures market is relatively small. We found that factors affecting the economic functions of the stock index futures market include policy factors, market factors, investor factors, and institutional factors, etc. Finally, we put forward suggestions for the development of the Chinese stock index futures market, including strengthening policy regulation, providing more trading tools, strengthening investor education and improving market operation mechanisms, etc.Key words: Stock index futures, economic functions, risk management, price discovery, price transmission
