Second, the relationship between the two is reflected in:
1. Capital market is an important platform for asset price discovery, and asset evaluation is an important channel for asset value discovery. The organic combination of the two serves the transformation and upgrading of China's economy.
(1) The appraisal industry should actively expand its business scope and serve the economic system reform; Actively adapt to the transformation of government functions and serve social management innovation; Improve the self-discipline management system, strengthen industry supervision, promote professional innovation, and strengthen research in new fields such as financial derivatives value evaluation.
2. Asset appraisal provides a value scale for listing, merger and reorganization of the company; Provide scientific basis for IPO pricing of GEM; Give full play to the professional advantages of capital pricing in the dynamic evaluation of share transfer, merger and acquisition, financing and mortgage pledge of unlisted joint-stock companies. Asset appraisal has played a fundamental role in the rapid development of listed companies.
3. At the same time, in order to prevent the disconnection between the real economy and finance and the expansion of asset bubbles, asset appraisal plays a role of "defoaming" and early warning, providing a value scale for the reform of financial enterprises, the mortgage and pledge of financial assets, and the subsequent management and disposal of non-performing assets, and preventing financial risks.
Three. The definition of asset evaluation is: asset evaluation, that is, the evaluation of asset value. It refers to the behavior that the assets at a certain time are evaluated and estimated by a specialized agency or a specialized appraiser, following legal or fair standards and procedures, using scientific methods and taking currency as a unified measure for calculating rights and interests.
Four, the main contents of China capital market construction:
1. Main board market: The main board market, also known as the first board market, refers to the traditional securities market (usually the stock market) and is the main place for securities issuance, listing and trading in a country or region. The main board market has higher requirements for the issuer's operating period, share capital scale, profitability and minimum market value. Most listed companies are large and mature enterprises with large capital scale and stable profitability.
Companies in Chinese mainland's main board market are listed on Shanghai Stock Exchange and Shenzhen Stock Exchange. The main board market is the most important part of the capital market, which can reflect the economic development to a great extent and is known as the "barometer of the national economy".
2. Second-board market: also known as Growth Enterprise Market, it is a secondary securities market second only to the main board market. In China, it is represented by Nasdaq market, especially Shenzhen Growth Enterprise Market. It is quite different from the main board market in terms of listing threshold, supervision system, information disclosure, trader conditions and investment risks. Its main purpose is to support small and medium-sized enterprises, especially high-growth enterprises, establish a normal exit mechanism for venture capital and venture capital enterprises, provide a financing platform for national strategic independent innovation, and contribute to the construction of a multi-level capital market system.
3. Third Board Market: NEEQ, the National Small and Medium-sized Enterprise Share Transfer System, is a national stock exchange approved by the State Council, and the National Small and Medium-sized Enterprise Share Transfer System Co., Ltd. is its operation and management organization. On September 20th, 20 12, the company was incorporated in the State Administration for Industry and Commerce with a registered capital of 3 billion yuan. Shanghai Stock Exchange, Shenzhen Stock Exchange, China Securities Depository and Clearing Co., Ltd., Shanghai Futures Exchange, China Financial Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange are shareholders of the Company.
4. Four-board market: The regional equity exchange market (hereinafter referred to as "regional equity market") is a private equity market that provides equity, bond transfer and financing services for enterprises in a specific region. Generally, it is mainly at the provincial level and supervised by the provincial people's government. It is an important part of China's multi-level capital market and an indispensable part of China's multi-level capital market construction. It has played an active role in promoting equity trading and financing of enterprises, especially small and medium-sized enterprises, encouraging scientific and technological innovation and activating private capital, and strengthening support for weak links in the real economy.
At present, there are more than a dozen regional equity markets that have been built and begun to take shape in China, such as Qinghai Equity Exchange Center, Tianjin Equity Exchange Center, Qilu Equity Custody Exchange Center, Shanghai Equity Custody Exchange Center, Wuhan Equity Custody Exchange Center, Chongqing Equity Transfer System, Qianhai Equity Exchange Center, Guangzhou Equity Exchange Center, Zhejiang Equity Exchange Center, Jiangsu Equity Exchange Center, Dalian Equity Custody Exchange Center and Strait Equity Custody Exchange Center.