年轻的中国证券市场经历了十几年的风风雨雨,在幼稚中不断成长,在曲折中不断前行。作为规制证券市场的重要法律手段,中国的证券法也面临着巨大的挑战,在艰难中不断总结,在探索中不断完善。《中华人民共和国证券法》(以下简称《证券法》)是1998年12月29日第九次全国人民代表大会常务委员会第六次会议通过、1999年7月1日实施的。不容置疑,《证券法》的实施对于规范证券发行和交易行为,保护投资者合法权益,维护社会经济秩序,促进社会主义市场经济发展,发挥了重要作用。也不需讳言,随着经济和金融体 The young Chinese stock market has undergone ten years of ups and downs, growing in childishness and moving forward in twists and turns. As an important legal measure to regulate the securities market, China’s securities law is also faced with enormous challenges. It constantly sums up in difficult times and constantly improves in its exploration. The Securities Law of the People’s Republic of China (hereinafter referred to as the “Securities Law”) was passed at the 6th meeting of the Standing Committee of the Ninth National People’s Congress on December 29, 1998 and implemented on July 1, 1999. There is no doubt that the implementation of the Securities Law has played an important role in regulating the issuance and trading of securities, protecting the legitimate rights and interests of investors, maintaining the social and economic order and promoting the development of a socialist market economy. Needless to say, along with the economy and the financial community