合格投资者是特定资本市场特定产品投资交易主体资格的塑造。其基本理念是高风险、高收益的投资证券或产品只能在具备风险认知、承受能力的合格投资者之间进行封闭式交易,才能形成安全稳定、有序的市场秩序。因而,应当将不合格投资者排斥于市场交易之外,避免引发系统金融风险,更好地保护投资者的利益。合格投资者的主体资格应当综合创设目的、特定交易领域和投资能力诸要素加以界定。其中须将定性与量化标准,客观与主观标准有机结合起来设计具体条件,并经一定的程序予以确认。在静态规制的基础之上还必须从与合格投资者发生法律关系的动态行为方面进行制度安排。我国合格投资者制度已经初步形成,今后应当在新兴市场、新产品领域引入该制度,在准入上多选择中介机构认定合格投资者,在适当性管理上应竭力消除利益冲突,同时明确不合格投资者参与交易的法律效力。 Eligible investors are the main qualifications of the investment transaction for a particular product in a given capital market. The basic idea is that high-risk, high-yielding investment securities or products can only be closed-ended transactions between qualified investors with risk awareness and affordability in order to form a safe, stable and orderly market order. Therefore, non-qualified investors should be excluded from the market transactions, to avoid systemic financial risks and to better protect the interests of investors. Eligible eligibility of qualified investors should be integrated creation purposes, specific areas of the transaction and investment capacity to define the elements. Which should be qualitative and quantitative criteria, objective and subjective criteria organic combination of design specific conditions, and to be confirmed by certain procedures. On the basis of static regulation, institutional arrangements must also be made with regard to the dynamic behavior of legal relations with qualified investors. The system of qualified investors in our country has been initially formed. In the future, this system should be introduced into emerging markets and new products. Many qualified intermediaries should be admitted on the basis of admission. In the proper management, efforts should be made to eliminate conflicts of interest and clear unqualified The legal effect of investor participation in the transaction.