By the above law, the supplier (central government) and the demander (local government and other groups) of issuance system the issuance system push the institutional changing together.

• 同样的,在这样的制度变迁机理下,我国的股票发行制度的变迁动力也是来自于股票发行制度的供给者(中央政府)和制度需求者(地方政府和市场的各个行为主体)。