Thoughts On Improving The Sponsor System In China

The sponsor system is the essence of the market through part of Securities Listing Supervision Rights, on the application of substantive review by the listing Corporation, for recommendations and guidance to meet the listing requirements of the company, and the sponsor responsibility. The sponsor system, external supervision and verification on the compulsory listing Corporation in prompting the sponsor and other market intermediaries at the same time, reduce the cost of supervision, improve the financing efficiency of listing Corporation, but also the maintenance of the order of the securities market, the protection of the interests of public investors.The sponsor system was officially launched in our country has played a positive role, the introduction of the sponsor system is helpful to improve the stock issuing system, improve the quality of the listing Corporation, to protect the interests of investors. But the sponsor system in our country just has been introduced for ten years, since the the sponsor system in our country was implementaed, the shortcomings in the continuous rising. China's securities market development is not perfect, the securities market has not established a complete system of integrity, quality of the vast number of investors has not reached a high level, in this case the stock market depends on the safety, stability greatly to government laws, regulations and rules. The soundness of these institutions have higher requirements, because he may guide the stock market toward prosperity, may also bring it into the abyss.This article on China's sponsor system main contents are analyzed, and through the analysis of advanced provisions on the sponsor system in other countries and regions, summed up the current sponsor system deficiencies, qualification certification system in our country the sponsor representative is not perfect, the sponsor and the related main body responsibility divide also is not clear enough, the supervision department of the sponsor supervision and accountability is deficient. This paper tries to put forward the suggestion about how to improve the sponsor system, through the improvement of qualification certification system of sponsor representative, a clear division of responsibilities and perfect aspects of sponsor sponsor supervision and legal accountability mechanisms to improve the sponsor system, in order to achieve the sponsor system to play a greater role in our country.