出版說明

本研究報告是中國人民大學金融與證券研究所（FSI）所長吳曉求教授領銜、FSI研究團隊連續撰寫的第二十一個年份的《中國資本市場研究報告》，曾提交給2017年1月7日在中國人民大學舉行的“第二十一屆（2017年度）中國資本市場論壇”，并作為論壇的主題研究報告。

吳曉求教授統纂了本研究報告，他在通讀了本研究報告的核心內容并做必要修正后定稿。趙錫軍教授對本報告的英文內容做了校閱。

本研究報告得到了教育部社科司的大力支持。從2011年起，由吳曉求教授領銜撰寫的《中國資本市場（年度）研究報告》被教育部社科司列為教育部哲學社會科學研究（發展）報告資助項目。本研究報告的寫作和出版得到了鑫苑（中國）置業有限公司、華融證券股份有限公司和《資本市場》雜志社等多方面的幫助，同時得到了中國人民大學出版社的大力支持。對此，我們深表感謝！

本研究報告可以代表本研究報告主持人和FSI對中國金融監管改革所持的主要觀點。

中國人民大學金融與證券研究所（FSI）

2017年3月7日

Publishing Notes

This research report is the 21 st annual China Capital Market Research Report, which is composed by Professor Wu Xiaoqiu—director of the Finance and Securities Institute（FSI）—and experts from FSI research team. Also, as the thematic report, it was submitted to“the 21st（2017）China Capital Market Forum”, which was hold by Renmin University of China on January 7,2017.

Professor Wu Xiaoqiu organized the writing of the report, read the core contents after the completion of the writing and finalized the last version with certain necessary amendments. Professor Zhao Xijun reviewed the English version and put forward some constructive suggestions.

This research report received substantial supports from the Social Science Department of the Ministry of Education. The serial China Capital Market Research Reports, which are composed by Professor Wu Xiaoqiu, have been selected as a sponsorship project in Philosophy and Social Science Research（Development）by the Ministry of Education since 2011. Also, this research report obtained enormous assistance from Xinyuan Real Estate Co. , Ltd. , Huarong Securities Co. , Ltd. , Capital Markets and China Renmin University Press. We would like to thank the institutions mentioned above.

This research report reflects the main opinion of the chief author, Professor Wu Xiaoqiu, as well as FSI on reform of financial regulation in China.

Finance and Securities Institute（FSI）of Renmin University of China

March 7,2017