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早在2010年,融资融券业务与股指期货相继推出,结束了国内证券市场近20年的单边做多模式,投资者对于“做空”已经形成初步概念。2012年8月底转融通业务的启动,更是加速了中国资本市场制度改革的步伐。转融通的实施,无疑将刺激融资融券业务量的膨胀,并使其与融资融券、股指期货成为是中国股市做空机制的“三驾马车”。做空有了保证原先的融资融券业务中,投资者可以借钱买股票,指望股票上涨后卖出赚钱,这就是融资;投资者也可以向券商借股票抛售,指望股票下跌
As early as 2010, margin financing and securities business and stock index futures were launched one after another, ending the unilateral multi-mode of the domestic securities market for nearly 20 years. Investors have formed a preliminary concept for “shorting”. By the end of August 2012, the start-up of the rendezvous business accelerated the pace of the reform of China’s capital market system. The implementation of transfer and conversion will undoubtedly stimulate the expansion of margin financing and securities lending business and make it become a “Troika” which is a short mechanism for the Chinese stock market with margin trading and stock index futures. Shorting Guaranteed With the original margin trading business, investors could borrow money to buy stocks and expect them to sell to make money after they rose. This is financing. Investors can also sell shares to brokers and expect the stock to fall