为什么要集合竞价？

集合竞价是一种股票交易制度，是指在每个交易日上午9:15-9:30，投资者可以根据自己的心理预期，自由地按照自己的价格进行申报买卖，以决定开盘价。英文翻译：Why do we need a collective bidding system?

1. 集合竞价的目的是为了确定开盘价。开盘价是每个交易日的第一笔成交价格，对于市场的走势和投资者的决策具有重要影响。通过集合竞价，投资者可以根据自己的心理预期自由报价，使买卖双方能够公平地表达自己的意愿，从而形成一个更加公正、透明的开盘价。英文翻译：The purpose of collective bidding is to determine the opening price. The opening price is the first transaction price of each trading day, which has an important impact on market trends and investors' decisions. Through collective bidding, investors can freely quote according to their psychological expectations, enabling both buyers and sellers to express their wishes equally and transparently, thereby forming a more fair and transparent opening price.
2. 集合竞价有利于提高市场流动性。在集合竞价期间，投资者可以根据自己的预期和市场情况自由报价，使买卖双方能够更快地达成交易，减少了市场的交易成本和时间，从而提高了市场的流动性。英文翻译：Collective bidding helps improve market liquidity. During collective bidding, investors can freely quote according to their expectations and market conditions, enabling buyers and sellers to complete transactions more quickly, reducing market transaction costs and time, and thereby improving market liquidity.
3. 集合竞价有利于控制市场风险。通过集合竞价，投资者可以更加公平地表达自己的意愿，使市场价格更加真实、透明。这样可以使投资者更加理性地做出投资决策，减少市场的非理性波动，从而控制市场风险。英文翻译：Collective bidding helps control market risks. Through collective bidding, investors can more fairly express their wishes, making market prices more real and transparent. This can enable investors to make more rational investment decisions and reduce non-rational market fluctuations, thereby controlling market risks.

综上所述，集合竞价对于确定开盘价、提高市场流动性和控制市场风险具有重要意义。因此，集合竞价已成为现代股票交易中不可或缺的一部分。英文翻译：In summary, collective bidding plays an important role in determining the opening price, improving market liquidity, and controlling market risks. Therefore, collective bidding has become an indispensable part of modern stock trading.