Role of Stockjobber for China Stock Market Realizing Its Resources Allocation Function;

The stock issuing system of Chinese listed companies is transformed from the administrative examining and approving system to the ratifying system, and the stockjobbers play the different roles under different issuing systems.

The author introduces recent development tendency of the foreign investment bank and analyses the difference between foreign investment bank and China s securities firms.

Following the analysis of the cause of system risk in Chinese stock market as well as the character of securities company and the updated study, it has been clarified that securities company can seek for the feasibility of coping with system risk by reinforcing the study power,risk management, business adjustment a.

The research work of domestic securities company is really rough at present.

Guangdong securities companies have operational advantages in geographic location,and resources etc.

With the development of the securities market in China, the securities companies have come through a rapid growth, which was a vital push to the adjustment of national economic structure and the integration of the resources.