本期《产权道,资本道!》报道了广州产权交易所李正希9月3日在詹姆斯·柯曼教授2006年全球巡讲中国站广州专场报告会上的演讲。李正希说,中国目前有两个资本市场与企业并购行为密切相关：一个是证券市场,另一个则是非证券化的产权交易市场。与国际资本市场的景观有所不同的是,中国大量存在着非证券化的国有独资企业、有限责任公司,目前这些企业面临着大规模的所有制结构调整。因此,产权交易市场的兴起堪称中国资本市场的一大奇观。 This issue of “property rights, capital road!” Reported on the Guangzhou property rights exchange Li Zhengxi September 3 in the speech of Professor James Koman Global Tour 2006 China Guangzhou Station. Li Zhengxi said that there are currently two capital markets in China that are closely related to mergers and acquisitions: one is the securities market and the other is the non-securities-based property rights exchange market. Different from the landscape of international capital markets, there are a large number of non-securitized wholly state-owned enterprises and limited liability companies in China, which are now facing a large-scale restructuring of ownership. Therefore, the rise of the property rights exchange market is a big spectacle in China’s capital market.