Research on the Expansion of Capital,its Scope and its Normalized Regulation
Capital has dual attributes of natural form and social form.Natural attributes reflect the role of factors,while social attributes reflect specific social production relations.Capital expansion is the dialectical unity and intertwined process of the natural and social forms of capital.It has three basic modes:market-based expansion,resource-based expansion and license-based expansion.Due to the propensity for profit,there is a phenomenon of diversified and disorderly expansion of capital,which may cause major risks at the micro and macro levels,infringe the rights and interests of small and medium-sized investors,and weaken the effectiveness of the regulatory system.And there may be multiple security threats.Capital supervision should fully understand the dual attributes of capital,take the"two unswerving"as the basic principle,fully respect the positive value of capital,cover all aspects of capital expansion,and focus on preventing the potential risks of disorderly expansion of capital,especially the systemic financial risks and the potential new financial risks of the digital economy.Capital supervision should improve the long-term mechanism of capital supervision,deepen the legal construction of capital supervision,focus on strengthening institutional corporate governance,effectively balance the dual attributes of capital,focus on improving productivity,effectively optimize production relations,and constantly strengthen the service function for Chinese path to modernization.
Natural Form of CapitalSocial Form of CapitalDisorderly Expansion of CapitalNormalized Regulation
NETL
NSTL
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