平准基金（Stabilization fund）.doc

平准基金（Stabilization fund） Stabilization fund, stabilization fund, stock market, bear market stabilization fund (Buffer, fund) The term leveling is a policy of transporting goods and selling goods in order to adjust the market price and obtain fiscal revenue. Emperoryuan Ding two years (115 BC), the pilot will all lose, in the Dasinong set all lose peace officer quasi officer, Wei Fu (warehouse) in the capital, that is to buy cheap goods to the cage, and then sold to the magistrate is expensive, not false, no profitable business therefore, stabilization. Because this method is feasible, the descendants often imitate, such as Wang Mangs five average six Guan; Tang, Liu, Guan, the southeast, Fu Fu, the tax supply, the supply of Guanzhong; Song Dynasty, Wang Anshi, the three lines and City Yi; and so on. In the west the famous wealth of nations, also have balanced theory. The so-called stabilization fund, also called intervention fund, refers to a fund established by the government in a statutory manner through a specific institution. This fund can reverse operation of the securities market, such as buying in the stock market crash, the irrational stock investment value highlighted; in the stock market bubble, sell market speculation atmosphere during the raging, ironing stock market irrational fluctuations, to stabilize the stock market. Stabilization fund is the government through the specific institutions (Commission, Ministry of finance, exchange etc.) to establish the legal method of the fund, through the reverse operation of the securities market, volatility smoothing market, in order to achieve the stability of securities market. In general, the source of the stabilization fund legal channels or their basic composition is mandatory, such as state funding, to participate in the securities market related units levy, does not rule out the voluntary purchase of investors placing. Broadly speaking, the stabilization fund usually refers to government funds through the s