Listed Companies Delisting System Legal Research

Listed company of China legal system refers to the regulation of the delisting of listed companies a complete set of legal system, refers to the stocks of a listed company in the stop listed, listed company, the securities supervision and administration institution, securities exchanges, securities market participants between the activity and the relationship between them, by the different effectiveness of laws and regulations of common components of the system. As the stock market listed company law, the withdrawal system not in Chinese securities market got enough attention. In the recent four years in the securities trading, China does not have a listed company, the entire market full of the ST shares nearly a hundred severe failure of delisting system of the securities market investment risk and increasing. One can only enter the market cannot exit the market's lack of survival of the fittest market naturally reduce the market level, so as to bring greater risk of securities investment..The real market is an advance out, goes to its dregs, takes its essence of the dynamic balance of the market. While the securities market of our country lopsided development is bound to the economic development of the whole country field generated enormous hindrance role. Therefore, the perfect delisting system to the present Chinese stock market is very important. In2012the government of Premier We mentioned in the report, perfecting delisting system of listed company as the focus of government work. This shows that, in the next stage, delisting system will become the "Securities Law" a hot topic in the field of. At the same time, because of the delisting system main board securities market established earlier, a prominent problem is more also, and its impact on China's economy more, this article chose to Chinese delisting system of main board market.This paper consists of five chapters:the first chapter is an overview, delisting system of listed company, Introduces the concept, characteristics and significance of the delisting system, highlighting the importance of the delisting system. The second chapter mainly introduces the overseas market retreating system. The author used the method of comparative analysis, on several mature securities market analysis, in order to find the perfect delisting system of listed company is beneficial draw lessons from. The third chapter mainly introduces Chinese delisting system of listed company of historical evolution. In this part, the author adopts historical comparative analysis method, history, summed up China's securities market on the road to growth and defects. The fourth chapter, mainly introduced the latest dynamic legislation--Shenzhen newly promulgated "Shenzhen stock exchange GEM Listing Rules"(2012Revision), and shall be implemented as of May1, 2012.Although the gem and the main board of the system is different, but the two is come down in one continuous line, and, this system also reflected our country to delisting system of the latest research results. From the research results, the author gives the motherboard delisting system to provide some useful reference.The fifth chapter summarizes this discusses from two angles, the author puts forward perfecting delisting system of listed company of a few idea. One is:the delisting criteria and procedures, put forward to perfect delisting system is proposed; the other party is:from the market subjects related to rights and obligations defined point of view, suggest that securities market related parties should how to exercise their rights, obligations, and work together to perfect our delisting system.