《证券法》开宗明义，通过规范证券市场促进社会主义市场经济的发展。可以看出“规范”与“发展”之 间具有一定的逻辑层次关系。前者是后者的基础和前提，后者是前者的实质性理由。而“发展”即《证 券法》立法的最高宗旨。本文将从证券种类、券商融资、Ａ、Ｂ股并轨、关联交易、法律责任失衡等几个 方面试析《证券法》之不足，以期能够协调“规范”与“发展”的关系，找到二者之契合点。 The Securities Law has been clearly stated, which promotes the development of the socialist market economy by standardizing the securities market. It can be seen that there is a certain logical relationship between “norms” and “development.” The former is the basis and premise of the latter, while the latter is the former substantive reason. And “development” is the highest purpose of “securities law” legislation. This article tries to analyze the problems of “Securities Law” from several aspects such as the type of securities, the financing of securities firms, the merger of A shares and B shares, the related party transactions and the unbalance of legal responsibilities, so as to coordinate the relationship between “regulation” and “development” The fit point.