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Security market and Chinese agriculture develop
 
One, the child that the functional security market that security market develops to agriculture is socialization big production, it is the inevitable result that goods economy, market economy grows certain level, it is the mark with market economy mature trend. Regard the advanced development of market economy as the form, security market condenses and condensed element of the basic mechanism of market economy, core and basic value sense, it should and can make contribution for agricultural development. (one) raise fund with investment function with the basic function that investing is security market. The enterprise is passed stock and bond are issued in security market, can quickly dispersive socially disengaged currency rises centrally, form a huge sum, can offer the sth used to one's own advantage that uses for a long time, use at produce and be being managed, thereby open up unlike indirect financing (the bank borrows money) direct financing channel. In the meantime, these stocks, negotiable securities also provided the direct investment tool of diversification for investor. The sense that this one function develops to agriculture depends on: Change society capital configures means, open up agriculture is direct financing channel, the capital that is helpful for overcoming agriculture to develop is restricted. (2) turn make with supervisory function   security market still has the function that makes a company change management mechanism. Security market has particular demand to managing principal part, the company should be become appear on the market company, must change first make become joint-stock company, will run according to the mechanism of joint-stock company. The enterprise should issue negotiable securities in security market, also should pass strict checkup program, want to have good outstanding achievement. This makes the enterprise lies constantly of each respect supervise and in the influence. These supervising include: The interpose of ① partner. Partner cares the management of the enterprise and future necessarily as investor, and pass accredit concern or " poll with the foot " the power that implements them. ② share price raises dropping pressure. The stand or fall of battalion of already of look forward to affects share price directly, share price rises, it is a kind of drive to the company; The price that runs not good at generation drops to be brought about possibly exterior take-over, restrict in this kind below, administrative layer must serve seriously for the company, the rights and interests of partner gets corresponding protection accordingly. Of ③ society supervise, especially of accountant office, attorney office, stock exchange supervise and restrict, these all restricting, make appear on the market the company forms perfect interior to run a mechanism. The sense that this one function develops to agriculture depends on: (1) the mechanism changeover that conduces to stimulative agriculture business, cultivate the bibcock industry in agricultural industrialization process. The main effect of bibcock enterprise asks it has perfect in-house moving mechanism, predominant constituent form. photograph comparing, appear on the market the advantage that the company has system to go up. Contrast appear on the market the requirement of the company, changeover enterprise manages a mechanism, be helpful for cultivating the bibcock industry of agricultural industrialization. (2) the business that inspire and affects of all kinds agriculture to run an organization spends change. Security market breeds agriculture not only large and medium-sized appear on the market company, and be inspired with its standard, efficiency and affecting economy of of all kinds agriculture to organize. In the course that runs in agricultural industrialization, because the enterprise manages means to have taller efficiency, a traditional smallholder manages means to manage means to transform to the agricultural company that faces the market stage by stage; Farmer the agricultural generator from the tradition is progressively transform to the agricultural industrialist that has market consciousness, investment consciousness, management consciousness. (3) the fluidity feature of security market can guide resource configuration and   of structural adjustment function benefit of capital flow direction is good and the department that has development latent capacity or enterprise, develop resource configuration and structural adjustment function thereby. Be in our country, economic structure is unreasonable, resource configuration efficiency is low, already became economy to run medium outstanding issue, the germ of these problems depends on lacking to guide resource especially fund is current the market mechanism with configuration. Security market provided a kind of such mechanisms fitly: On security market, capital sheds good to benefit industry, business below the guiding of the interest, abandon low, lack increases yield the negotiable securities of latent capacity, realize the reasonable configuration of the resource that includes fund inside thereby. The sense that this one function develops to agriculture depends on: (1) remove trade barrier, accelerate agricultural industrialization process. Agriculture should enter security market, should be in security market not by desolate, must want to become first can the industry of gain, become compare the estate with more expensive benefit. past farming is industrial and commercial be out of line, for depart of produce and sale and agricultural labour force overmuch circumstance falls, door of Ministry of Agriculture is confined to raw material sex raw product production, the appreciation of treatment and link of transportation and sale flowed to industry and trade department. However, in agricultural industry unifinication management condition falls, agricultural comparison benefit and market position can rise greatly. Resource configures a function to make agriculture must take the way that industrialization runs, enhance gain ability. (2) raise resource to configure efficiency, keep within limits and overcome repeat construction. In the management sex asset of door of Ministry of Agriculture, existence repeats construction project not less, create economic structure unreasonable, resource configuration efficiency is low. Repeating construction is planned economy and sectional intersected inevitable result. In planned economy in the process to market economy shunt, bring about the old system that repeats construction to still can produce effect. The resource that uses security market configures a function, effectively keep within limits and overcome the malpractice that repeats construction. Because,this is, above all the hasten profit motive of capital can break through the branch in agricultural management to break up, the free and reasonable flow of stimulative resource; Next, annex of security market large-scale is bought, asset recombines and property right trades, be helpful for dish of vivid asset that put an amount, raise resource to configure efficiency. (4) security market passes   of dispersive risk function the negotiable security that provides all sorts of different property, different deadline, different risk and income, the person that give investor and financing already offerred those who abound to drop financing channel, also provided the medium of communication of dispersive risk at the same time. Above all, those representing capital of be in harmony plans market fund through issueing negotiable securities, its actually venture share ground is transferred and give investor dispersedly. Appear on the market the partner of the company is more, the management risk that single shareholder place assumes is less. Next, it is OK to cast those representing capital according to distinct preference, mix through negotiable securities of buying and selling build investment combination to transfer and reduce a risk. The fluidity feature of security market solved investor to change hard showing trouble back at home, the occurrence of security market, to all sorts of length short-term fund is changed each other and transverse capital be in harmony is connected provided agency and room. People can buy negotiable securities with cash, capital of production of consumptive capital translate into; People also can sell a negotiable securities, turn into its real purchasing power, in order to settle the need that spot pays. The sense that this one function develops to agriculture depends on: The production that the essential feature that agriculture produces decided its place is peculiar is periodic the risk such as calamity of nature of long, existence. The dispersive risk function of security market is helpful for dissolving the risk pressure of agricultural business, be helpful for long-term development of agriculture. (5) social function   the China to shunt period, security market still has his to surmount the social function of economic domain. Above all, the occurrence of security market accelerated Chinese economy shunt and the development process with modern society, extensive and thorough ground transmitted the ABC of market economy and value sense. Next, security market becomes life of connection state politics, economy and citizen the ligament of personal interest, removed a society to condense action. Security market is politics, economy " barometer " . Policy of policy of policy of increase rate of reform of political situation of international situation, country, system, economy, finance, monetary policy, industry, taxation, the investment of the management outstanding achievement that can affect a business and investor closes. 81. Security market and Chinese agriculture expand benefit, also can receive report in security market. Of security market go situation, the state of mind of investor, tendency also can feedback to concern a section to the country, affect thereby about decision-making. In the meantime, set out from self interest, enterprise, investor treats the life, economic situation, enterprise to manage a state to maintain high care to national politics necessarily, and become national politics stability and the staunch proponent that economy grows. The sense that this one function develops to agriculture depends on: (1) be helpful for strengthening the attention of government and public to agriculture. On security market, agriculture kind appear on the market the attention that the management state of the company can draw an innumberable families everyday, investor is met the because of this current situation that pays close attention to development of agricultural policy, agriculture more and trend, negotiable securities orgnaization can study seriously more the information of agricultural respect, pay close attention to the economic activity of agricultural business. And these signal can feedback decision-making layer, affect concerned policy thereby make and carry out decision-makingly carry out. (2) the innovation of management idea of stimulative agriculture department. Security market condensed the woof of market economy. The couplet of agriculture and security market is connected, brought the change of management idea. For example, from take a product seriously to manage a product only manage with capital pay equal attention to; From pursuit gain is the biggest change seek profit already the biggest change, also pursue company value the biggest change; From take the corporeal factor of production such as land, farm tool seriously only, to take the aeriform factor of production such as stock, bond seriously to wait. This is the significant progress of means of management idea, thinking and innovation. The place on put together is narrated, security market is agricultural infuse a variety of modern factor of production, agriculture needs security market. In the meantime, security market also needs agricultural participation. Agriculture depends on to the importance of security market: ① does not have agricultural participation, security market will be reduced greatly to the influence of national economy, the importance of security market will sell at a discount greatly; The food that ② agriculture place forms and all of fine hold together are the world's greatest estate department, participate in without them, security market is half-baked; ③ produce market is never the market of be on the wane, agriculture was offerred for negotiable securities investor appropriate and long term the tool of investment, be helpful for reducing the behavior of short line spec in security market. 2, the way     that agriculture uses security market (one) the way   that agriculture uses stock market stock market is current the main body of Chinese security market. Below the case that has not fill minute of development in the negotiable securities breed such as bond, fund, stock market takes the lead in supporting the security market that has China. Current, of market of certificate of verify of our country agriculture using basically undertake through stock market. To the end of 1999, the joint-stock company that shares 57 agricultural notions appears on the market issue a share, its advocate business Wu and capital cast Xiang Han to build produce feed of treatment, pasturage, cultivate, seed, fishery, aquiculture, forestry, produce is current, chemical fertilizer, agricultural the domain such as machinery, involve agricultural antenatal, produce medium, postpartum each link. The measure that agriculture uses stock market is: 1. Agricultural business is changed. The meaning that agricultural business changes is: Accelerate drive all sorts of resource to be transferred to agricultural industrialization, execute an enterprise to turn management to the management sex asset of all sorts of commercial agriculture, according to " company method " requirement standard enterprise organizes a form. The enterprise is changed is the premise that agricultural business enters stock market. Asset of agricultural management sex must be made through the enterprise reorganization, just have the requirement that enters stock market. 2. Agricultural company stock is changed. Agricultural company stock is changed is to show agricultural business builds share-holding system or share collaboration is made, enter stock market to lay microcosmic foundation for agriculture. Agricultural company stock changes process expression to be a variety of forms, for example, farmer combines the company that initiate share turns; Undertake to rustic cooperative share collaboration is made transform, farmer gains partner competence; The produce that farmer sells with its or enterprise of service share bibcock, as first shareholder, share company profit, do not share management; Enterprise of bibcock of professional cooperation share; Bibcock enterprise has share-holding system or share collaboration is made transform; Agricultural industrialization chain is held each other between the enterprise of different link, build " the interest is shared, the risk is carried in all " interest community. What must point out is, agricultural business changes the course that the process is a diversification, it is the process that an a variety of mode coexist. As a result of the history, natural reason, battalion of already of our country farming is put in a variety of organization forms necessarily, agricultural business also can be behaved for different pattern. The constituent structure of this kind of diversity is in quite a paragraph long period can be put stay. 3. Negotiable securities of agricultural joint-stock company is changed. (1) give aid to existing agriculture joint-stock company appears on the market. On the basis that changes in agricultural company stock, give aid to and drive the agricultural joint-stock company that accords with a condition to enter domestic and international stock market to issue a share, be on capital to manage " drive " . Carry stock market raise fund function, collect capital is rapid and outspread enterprise dimensions, gain dimensions benefit; Those who carry stock market turn control a function, improve the quality of the enterprise and level of management; The resource that carries the stock market configures a function, cultivate high grade substance ceaselessly, improved young qualitative property, implementation industry structure is optimized, be applied and buy, recombine wait for capital to manage a resort, walk along collectivize, dimensions to change development way; Carry the tremendous influence of the stock market, raise agriculture to appear on the market of the company famous degree, enlarge the intangible assets of the enterprise, create good company image, let industrialization of agriculture of whole society understanding, care, support, let agriculture appear on the market the strong faucet that the company makes industrialization manage. (2) establish new agricultural joint-stock company to make its appear on the market. New established joint-stock company can emphasize particularly on develop 3 kinds of types: It is large. Basically be directly under of former state ministries and commissions is large enterprise of farming trade treatment, current, imports and exports, appear on the market via reorganizationing. 2 it is high-quality goods model. Choose a certain number of famous agriculture high-quality goods to be like hot pickled mustard tuber of hill of Dang Shan Li, Fu to wait, establish joint-stock company of agricultural high-quality goods to appear on the market. 3 it is high-tech model. joint-stock company of agriculture of high-tech of composition of base of achievement of high-tech of our country agriculture, farming division, raise agriculture to appear on the market the content of science and technology of the company. (3) build rural property right to trade the market. Deepen as what share-holding system and share collaboration make reform, rural capital fund is able to quantify, property right be able to clear, the equity that is not the share-holding system company that appear on the market and share collaboration to control a company can be changed through negotiable securities, trade in property right the market is current make over. Current, rural property right trades the market is built urgently. Of a standardization, the property right that has sanction trades the market is helpful for asset of dish of vivid agriculture management sex, the repetition that industrialization of effective and abstemious agriculture manages is built, recombine creation condition for large-scale structural adjustment and asset, make stock market and property right market, large company and small and medium sized business realize effective couplet to connect, be helpful for raising the efficiency that agricultural industrialization manages and scale. (2) the main component that the market of bond of way   China that agriculture uses bond market regards security market as, its market dimensions and development degree lag behind at the stock market far, cannot place on a par with bank credit more. Chinese company is right of bond market participating in degree is very low. Agriculture is the foundation of national economy, but still have no an agricultural business to issue debenture up to now. Our country should take seriously and strengthen pair of bond tools apply. Agriculture uses the main way of bond market to have 3 kinds: ① issues debenture. Battalion of ② hair go by infrastructure is like road, bridge, reservoir to wait for project bond. ③ government issues agriculture special bond. Current, the bond kind that can select for agricultural industrialization basically is an enterprise bond and can change bond. 1. Enterprise bond and issue. Enterprise bond has vast development space. No matter still be analysed from investor angle from angle of the person that raise fund, enterprise bond has its individual appeal. From the point of the angle of the person that raise fund, issue enterprise bond put together to close cost under issue a share. Because,this is: ① passes bond financing, the accrual of debt plan enter cost, have to the effect that reduces duty radical; And in stock financing, existing company legal person and partner are double the problem of pay taxes. ② passes bond financing, the company can use outside capital morely to enlarge company dimensions, increase the profit of company shareholder; And in stock financing, issued a stock to raise the fund that use admittedly, but the allocation that also increased company profit at the same time base. ③ passes bond financing, company original administration is basic insusceptible; And pass stock financing, the administrative structure of the company is likely because of new partner enter and suffer an effect. From the angle analysis of investor, investment bond is OK because avoid appears with the information asymmetry between the enterprise investment risk. In modern economy activity, information is to make the important basis with decision-making investment, but information is rare be short of. In equity investment circumstance falls, because existing to entrust, the representative concerns, moral risk may happen at any time. And the loss that bond invested to reduce moral risk to may be brought, reduced supervisory cost. This makes bond can get the preference of investor. 2. Can change debenture to reach issue. Can change debenture (abbreviation " can change bond " ) be can be in the specific time, special enterprise that is common stock ticket by specific requirement changeover one kind bond. Can change bond to hold the character that has bond and share concurrently, contain the following 3 characteristics: ① bond sex. Like other bond, can change bond to also have formulary interest rate and time. Investor can choose hold bond to expire collection capital and accrual. ② equity sex. Before changeover becomes a stock, can changing bond is dinkum bond, but after changeover becomes a stock, holder of original negotiable securities turned a company into partner by creditor, the managemant decision that can enlist a company and bonus allocate. ③ reversibility. Reversibility is the important symbol that can change bond, bond hold person can change bond into the stock by conventional condition. Turn equity is the option that investor enjoys place of some, common bond to do not have. Can change bond to make clear an agreement when issue, bond hold person the common stock stock that can press the price that when issue as before goes, agrees to change bond into the company. If bond hold person do not miss transition, can continue hold bond, until repay capital of the collection when expiring and accrual, or sell in circulation market change now. The investor that can change bond still enjoys the right that returns bond carry out to give publisher. A few can change bond with the clause that answer carry out, last when the market value of company stock under turn share price (the value that can change bond to be changed into the stock by the agreement namely) when reaching certain range, the load holder can answer bond by stipulation carry out gives bond publisher. Additional, the publisher that can change bond has the right of compulsive and redemptive bond. A few can change bond to answer a clause with compulsive atone for when issue, the regulation is inside certain period, if the prep above of market price case of company stock turns share price is fair when extent lasts for some time, publisher can enforce by stipulation redemptive bond. Because can change the option that bond does not have with common bond place, accordingly, can change bond interest rate general under common debenture interest rate, the enterprise is issued can change bond to conduce to reduce raise fund cost. But can change bond to be able to be changed into company stock below certain condition, can affect the fee of the company consequently. (3) agriculture uses the way   industry of fund market to invest fund is a concept that invests fund to answer relatively with negotiable securities, it is the investment fund that is investment target with individual industry. The main purpose of this kind of fund is the investor that attracts specific to some kind industry to have fun at, through issueing fund to be benefited certificate collect collects money gold, hand in the investment administration that comprises by the expert to run, develop in order to support these industries. Its invest a target to pursue long-term capital gain already, also pay attention to current income, be a kind of model grow reach income investment fund. Fund of investment of estate of our country agriculture is the tool of be in harmony of the capital that cast be in harmony that establishs by concerned code. Its manage a tenet is, below the premise that follows national industry policy and security market regulation strictly, direct for investment with the market, accrual, the capital of collect has the investment of the form such as equity to enterprise of agricultural industrialization bibcock and the project that have market potential, stimulative target company and project scope are changed, specialization, intensive is changed and commercialization is managed, improve the beneficial result of target company, give investor with rich and generous investment redound. 1. Agricultural industry invests the fixed position of fund. Fund of investment of estate of our country agriculture should be a group of fund, the agriculture that has national class already develops fund, the agriculture that has each district again develops fund; Have already fore-and-aft wait for differentiating investment fund like pasturage, fishery, forestry by the industry, the agricultural industrialization that also has branch of the transverse division into districts that press the ground invests fund, the invest in that still has both couple is specific the investment fund of the specific industry of the area. Financing source can be the orgnaization of Chinese churchyard or natural person already, also can be the orgnaization outside the condition or natural person, OK still outside churchyard condition at the same time collect. Have churchyard fund already, also have the fund outside the condition, still have China and foreign countries joint-stock collaboration fund. Have already appear on the market fund, still have blame appear on the market fund. Have such fund structure only, ability gets used to the difference of Chinese each district, ability is brought into play in the center of with the place two enthusiasm, ability has adequate financing source, be helpful for assuring the security of capital, profitability, fluidity. 2. Of fund of agricultural estate investment create kind. In at present setting of the economy of our country, finance falls, of fund of agricultural estate investment create kind with enclosed advisable. Because,this is: The security market that at present place of Chinese investment fund relies on ① is immature, market wave motion is big, congenial atmosphere is grumous; Investor is not quite mature, its invest behavior to have very big blindness. Below this kind of setting development opens type fund, the change of situation of the wave motion of security market, society, can bring about investor impulse sex remove endowment behavior, what affect fund thereby is normal run. The investment target of fund of investment of ② agriculture estate is agriculture, agriculture produces cycle to grow, need steady financing source, is not the idle money that can take at any time. Create the investment fund of open mode, what can create fund is not stable. ③ our country lacks those who open type fund to run experience and manpower resource at present, open fund is created below this circumstance, have very big management risk. Invest the need of relative to capital stability to get used to agriculture, agricultural investment fund should choose in development initial stage enclosed establish. But should see, open mode fund already became the world to invest the mainstream of fund now. The development rule of world fund industry is from enclosed fund trend opens type fund, in market economy developed country open mode fund already held crushing majority. Initial stage develops in fund with enclosed give priority to have its objective inevitability, because its operation and management are simpler, risk and pressure are lesser. But the angle that optimizes from the system, need moves toward open mode fund stage by stage. 3. Agricultural industry invests the choice of fund type. By the organization configuration differentiates, fund can be divided for bond model with two company categories. Their distinction depends on: ① law position is different. Company investment fund is a basis " company method " and hold water, have corporate organization; Bond investment fund is established according to trust deed, do not have corporate organization. The certificate that ② issues is different. Company investment fund is through issueing common stock the ticket plans market fund, the hold of common stock ticket person it is partner namely; Bond investment fund is be benefited through issueing the proof plans market fund, be benefited the hold of the proof person for beneficiary beneficiary. ③ differs about party. Establish company investment fund to have 4 party normally: Person of fund company initiator, fund management, fund is mandatory person and consignee; Establish bond investment fund to have 3 party only normally: Person of fund initiator, fund management and fund are mandatory person. Look from the angle of investor, these two kinds of means do not have too big distinction. The angle that runs from fund sees these two kinds of types have advantages and disadvantages each. Look from the angle that invests agriculture, choice bond fund is relatively appropriate. Above all, bond fund is established, run, disband more agile, facilitating operation, investor does not need to form entity of a legal person, after wanting to buy accrual certificate to fund management company only, become the beneficiary beneficiary of this fund namely. Next, initial stage develops in fund industry, bond fund is helpful for reducing administrative clash, highlight expert conduct financial transactions, major government. Because bond fund is a kind " fictitious legal person " , the carry of fund decides should undertake by the expert that has experience; And company fund is independent legal person, supervisory of easy interference fund is managed, the attrition on occurrence management. Finally, bond fund can protect investor interest better. Bond fund is a kind of fiducial fund, the independent character of fiducial belongings is helpful for protecting the interest of investor, can make the holder of different fund portion enjoys coequal right especially. 4. Agricultural industry invests the administrative pattern of fund. The key of management of fund of agricultural estate investment depends on fund management company. The characteristic that fund runs is to pass the major that runs a company to run, ensure the investment redound of beneficiary beneficiary. Choose fund management company to have two kinds of kind: It is establish company of a management to create new fund, give fund it manages; 2 be hand in after fund is established by already management of some fund management company. The investment fund that home already created and inchoate fund take the first kind of kind basically. The argument that makes the appearance so is our country fund management company is little, lack relevant management experience, its essential cause is the sense that lacks social division of labor, inspect fund to be his asset, not allow other encroach on. The 2nd kind of means is direction of the following development. As the development of fund industry, the situation that manages many fund by company of a management will appear. This is helpful for managing a company to accumulate more professional experience, managing fund runs cost; In the meantime, the initiator that still can prevent fund is initiator of fund management company, go against safeguard broad in the blemish of small investor interest. Agricultural fund manages a company to should be familiar with society of science and technology of agricultural economy, agriculture, country, have assayer of agricultural economy expert, business management expert, finance and capital operation expert to wait for manpower resource. Its establish, it is to pass new the way that establish, 2 it is to choose to have those who run agricultural fund condition to already had fund management company, 3 it is to recommend the fund management company with joint-stock China and foreign countries. Agriculture already made gain trade in the developed country, the successful experience of agriculture of foreign investment thering is no lack of, recommend the fund management company with joint-stock China and foreign countries, be helpful for those who raise agricultural fund applying performance not only, and be helpful for improving fund level of management. The place before be like is narrated, fund of estate of our country agriculture can be a group of fund, but the management of agricultural fund should be centered relatively. Pass the market examine, through the filtration of investor, form 9 agricultural fund that have authority to run a company finally. 3, the 20 centuries of   of concerned policy   that develop agricultural security market since 90 time, as a result of agricultural industrialization drive, each industry profit margin tends gradually average, the contemporary company system of agricultural domain is being formed and establish, the government appears on the market to agricultural business the policy that implements a key to tilt, the channel that agriculture uses security market is basic and expedite, so, agricultural business uses the pace of security market financing to be accelerated ceaselessly. End by 1999, agriculture appears on the market the company is passed new appear on the market, match wait for means to be in capital of security market collect is close 20 billion yuan, be equivalent to 1998 22% of capital of governmental finance support agriculture. Develop the financing function of security market, should have done the following work currently: (one) breed   of more security market main body above all, the pursues agriculture managing business that fosters more to accord with a condition appears on the market, increase its asset quality and gain capacity. Next, breed the investor of more and familiar agriculture, encourage fund of fund of dweller, enterprise, insurance, provide for the aged, joint fund to wait for orgnaization of social legal person to share investment agriculture business. Finally, breed more orgnaization investor, develop its fund the advantage of conduct financial transactions of abundant, expert, make invest main body diversification. (2) development and   of object of normative security market above all, augment market size, abound financing breed, with suit and satisfying distinct investment preference, push futures of index of authority of be derailed usance, stock to wait for example. Next, bond of active project financing, local government, enterprise bond, can change bond and guaranty bond financing. Again, in appropriate time, open and state-owned, legal person share appears on the market, increase stage by stage state-owned appear on the market with collective asset current strength. Finally, consult international experience, combine our country national condition, undertake finance innovates ceaselessly, increase new financing tool. (3) the financing of market of capital of capital market   that builds diversification is not be confined to market of stock market, bond and fund market, still should include property right to trade the market and other currency money market. The property right that can establish standardization trades the market, those who carry a business buy, recombine, manufacturing data trades undertake financing. Additional, folk's initiative small-sized finance orgnaization, society raises funds the money market classics of this kind of primitive form is rectified, the one part that the standard also can make capital market. (4) develop overseas financing market hard, the internationalization process   that drives capital market dovishly above all, business of our country agriculture can create a condition to go to international security market to issue stock or bond. Next, can establish the agriculture with joint-stock China and foreign countries to develop fund jointly with gold of condition foreign capital. Again, allow a foreign trader to invest agricultural business to appear on the market in home and abroad issue a share. Finally, strengthening superintend, below control risk and the premise that realize finance to open stage by stage, allow international to capital has measure land and enter domestic security market with proper way, let foreign capital invest Chinese agriculture stock, promote the internationalization process of Chinese security market. (5) education and development specialization the intermediary orgnaization on market of capital of intermediary orgnaization   basically is business of investment bank, negotiable securities, investment advisory company, property right trades advisory company. They can reorganization for the enterprise, buy, share-holding system is transformed, project financing offers a plan, seek advice and participate in an organization to work. As a result of industry characteristic of agriculture, be necessary to be fostered in original orgnaization or build characteristic of familiar agriculture industry and agricultural production to manage the rule, the intermediary orgnaization of the help can be offerred in activity of capital market financing for agriculture. (www.my-paper.info my paper)

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