中国股市长期低迷的动因分析摘要近年来，股票市场一直处于低迷状态，不仅影响我国证券市场基本功能的发挥，同时也给对我国宏观经济产生一定的负面影响。因此，本文将对中国股市长期低迷的原因进行了一系列的研究。通过研究发现，我国股市长期处于低迷主要表现在股市功能导向存在误差，股市行情存在重大的结构缺陷，股市内部环境恶化以及外部环境治理效率低下等问题，分析其中的动因主要表现在制度建设的缺陷，一级市场与二级市场相辅相成的关系。最后提出中国股市摆脱长期低迷，重振市场的对策，主要为完善市场目标，推进市场改革，优化股票市场结构，加强监管，杜绝市场上违法行为的发生，进一步完善股市投融资功能，体现收入分配的调节功能，实现资源配置的合理化一级进一步完善与股市相关的法律制度体系，营造良好的外部运行环境。关键词：一级市场；股权分置；证券发行核准制；退市机制AbstractInrecentyears,thestockmarkethasbeeninthedoldrums,affectsnotonlythebasicfunctionsofChina'ssecuritiesmarkettoplay,butalsototheeconomyofourcountryhavecertainnegativeeffects.Therefore,thispaperonChina'slong-termstockmarketdownturncarriedoutaseriesofstudies.Throughthestudyfound,China'sstockmarketlong-termdownturninthestockmarketmainlyexisterrorfunctionorientation,thestockmarketexistsgreatdefectsofmarketstructure,internalenvironmentandexternalenvironmentoflowefficiencyofcorporategovernance,analysisthemainlydefectsinthesystemconstruction,therelationshipbetweentheprimarymarketandthesecondarymarketofthetwocomplementeachother.Finally,Chinaoutofthestockmarketlong-termdownturn,revivethemarketstrategy,mainlytoimprovethetargetmarket,promotingmarketreform,optimizethestructureofthestockmarket,strengthensupervision,preventillegalbehavioronthemarket,furtherimprovethestockmarketfinancingfunction,reflecttheincomedistributionadjustmentfunction,realizetherationalallocationofresourcestofurtherimprovethelevelofthelegalsystemrelatedtostockmarket,tocreateagoodexternalenvironment.Keywords:Theprimarymarket；thesplitofshares；Approvalforissueofsecurities；delistingmechanism目录摘要.........................................................................................................................................2Abstract...................................................................................................................................21绪论......................................................................................................................................41.2文献综述...........................................................................................................................61.3研究框架...........................................................................................................................71.4研究方法...........................................................................................................................81.5论文创新点.......................................................................................................................82.中国股市的发展历程..........................................................................................................83.中国股市低迷的现状........................................................................................................103.1股市功能导向存在误差，股市和宏观经济之间缺乏联系.........................................113.2股市行情存在重大的结构缺陷，股市实现可持续发展缺乏必要的支持.................123.3股市内部环境恶化，制度缺失现...
