简析股指期货推出对中国股市的影响

摘  要

随着中国经济的进一步发展，我国目前经济高速增长，经济增长背后的压力也越来越大，利用股指期货来回避经济中的风险已经刻不容缓，股指期货可以规避股市的系统性风险和对股市进行投资。本文先从介绍股指期货入手，接着介绍了美国，韩国，日本等国家推出股指期货对其国的具体影响，引出中国推出股指期货可能对股市和经济造成的影响。
由此得出结论，股指期货的推出对我国的股票市场的发展有利有弊：一方面期货交易可能会造成更多非理性的投机活动使得现货市场的波动性加大，那么政府主管机关就有必要谨慎选择推出股指期货的时机，做到先规范，后发展；另一方面期货市场存在可能减缓现货市场的波动，增加现货市场的效率性，那么政府积极为股指期货的发展创造制度和条件，在条件成熟时尽快推出股指期货则是大势所趋。
关键词：股指期货 股票市场 投机套利
ABSTRACT

   
   With China's further economic development, China's current rapid economic growth, economic growth behind the increasing pressure, the use of stock index futures to avoid risks in the economy has been delay, stock index futures market can avoid the systemic risk and invest in the stock market . This article first start on stock index futures, and then on the United States, South Korea, Japan and other countries launch stock index futures on the specific impact of State, leads China may launch stock index futures on the stock market and economic impact.
This concluded that the introduction of stock index futures on the development of China's stock market pros and cons: On the one hand, futures trading may result in more irrational speculation makes the spot market volatility increased, then the competent authority is necessary Carefully choose the timing of launch stock index futures, the first to regulate, after the development of futures markets on the other hand there may slow down the spot market fluctuations, the increase in the efficiency of the spot market, then the Government will actively stock index futures for the development of the system and create the conditions in When conditions are ripe to launch stock index futures is the trend of the times.
Key words：Stock index futures   Stock market  Speculative arbitrage

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