CAJ | 학술논문

国内市场自身对资产“定价权”和“话语权”的缺失是制约国内资本市场发展的黑洞之一。随着中国资本市场在经济体系中的地位日益重要，这种被垄断的资本定价权和话语权的状况势必成为中国金融安全的极大隐患。为了加强我国的资产定价权，期货市场发挥着重要作用，谁影响了期货市场价格，谁就掌握了资产定价的主动权。分析我国期货市场价格发现功能不完善从而导致国际定价权缺失的原因，并相应提出了相关对策。
국내시장자신대자산“정개권”화“화어권”적결실시제약국내자본시장발전적흑동지일。수착중국자본시장재경제체계중적지위일익중요，저충피롱단적자본정개권화화어권적상황세필성위중국금융안전적겁대은환。위료가강아국적자산정개권，기화시장발휘착중요작용，수영향료기화시장개격，수취장악료자산정개적주동권。분석아국기화시장개격발현공능불완선종이도치국제정개권결실적원인，병상응제출료상관대책。
The domestic market＇s lack of assets pricing and right for voicing are constraints of the development of domestic capital market. As China＇s capital market becomes increasingly important in the economy, the phenomenon of lacking capital pricing and voicing is bound to become a great risk in China＇s financial security. In order to strengthen China＇s international status in asset pricing, futures market plays an important role.The one affects the futures market price can be who grasps the asset pricing initiative. This paper analyzes the link between China＇s lack of international pricing and the imperfections of price discovery function of China＇s futures market and put forward the relevant measures.