中小投资者保护的中国实践:创新、成效与企盼  

China's Practice of Small Investor Protection: Innovation, Effectiveness and Prospects

作　　者：钟腾 ZHONG Teng(China School of Banking and Finance,University of Intemational Business and Economics)

机构地区：[1]对外经济贸易大学中国金融学院

出　　处：《金融市场研究》2024年第4期1-10,共10页Financial Market Research

摘　　要：保护投资者尤其是中小投资者权益,既牵系亿万家庭的切身利益,也关系资本市场的长远发展,是推动高质量发展与共同富裕的应有之意。中证中小投资者服务中心(简称投服中心)作为具有中国特色的中小投资者保护机构,是我国在中小投资者保护方面一项重要制度创新,围绕持股行权、纠纷调解、提供法律服务、投资者教育四大功能,切实维护了中小投资者的合法权益。结合最新学术研究成果,本文分析了投服中心保护中小投资者利益的主要机制,即作为监管型小股东积极行权改善公司治理、作为诉讼代表人降低中小投资者的维权成本,并从继续完善相关立法、简化特别代表人诉讼启动程序、提高投资者金融素养等方面给出政策建议。Protecting the rights and interests of investors,especially small investors,is not only related to the vital interests of hundreds of millins of families,but also the long-term development of the capital market.It is the proper meaning of prormoting high-quality development and common prosperity.China Securities Investor Services Center(CSISC)is an important institutional innovation with Chinese characteristics in the protection of small investors.Since its establishment,CSISC has efectively safeguarded the legitimate rights and interests of small investors around the four major functions of shareholding exercise,dispute mediation,provision of legal services,and investor education.Based on the latest academic research,the study analyzes the main mechanisms of the CSISC to protect the interests of small investors,namely,as a regulatory small shareholder actively exercising rights to improve corporate govermance,and as a litigation representative reducing the rights protection costs of small investors.And it prupuses continuing l0 improve relevant legislatton,simplltylng the speclal representative ltigatton Intaton procedures,and improving investors'financial literacy.

关 键 词：中小投资者保护 投服中心 特别代表人诉讼 股东积极主义 

分 类 号：F832.51[经济管理—金融学]