The Delisting System In Our Country Legal Research

So far,the legal framework for delisting of listed companies in China has been basically established and implemented,to the end of 2016 has more than 90 companies delisting.But given the rules themselves designed to unreasonable,the supporting measures,it is necessary to reform the rules of operation is affected by external environment factors,retreat city at present,in the operation of expected purification market,promote the overall quality of the listed company,company executives,to protect the interests of investors and other aspects of the role played not so obvious.In the process of perfecting the delisting system in China,the most profound significance of the past two years was the mid-2014,China Securities Regulatory Commission issued a "reform and improve the strict implementation of the delisting system of listed companies a number of opinions".Shortly after the announcement,the Shanghai and Shenzhen Stock Exchange revised listing rules.ST Bo Yuan has become the first under the new regulations delisting knife ghost".Although the capital market,ST blog is only a trivial one,but its "unprecedented"delisting,will undoubtedly have a profound impact on the entire market ecological environment.However,in the mid of 2015,in the capital market Chinese happened once again following the 2008 stock market crash after crash shocked the world.Although the public in the stock market after the stock market challenges include the IPO super,executives ban cash,inventory off-site funding,sitting on the GEM bubble.But the author thinks that,its one of the most main reason lies in China's capital market is not mature,the most direct embodiment and immature capital market in China is that of the delisting system in China is relatively perfect.The author intended to address each from the following four parts:The first part of the text is mainly introduced after the promulgation of the new regulations was forced to withdraw from the first company-ST Bo Yuan and delisting process,the impact of the delisting system reform and frequent changes in shareholders of the three aspects of the analysis of the reasons for the withdrawal of ST blog;through its more legendary life and its delisting process,leads to related issues.The second part of the text mainly introduces the historical changes and status quo of the legal system of delisting in China.In the third part of the text,the paper analyzes the existing problems of the current legal system in China,from the exit criteria,the exit procedure and the protection of the rights and interests of minority investors.At the beginning of the fourth part of the text,the author first discusses the principle that China's delisting system should follow,because the legal principle is the basic truth of the law,the principle of perfecting the delisting system of our country must also be within the framework of legal principles;Second,respectively from the delisting system in construction of substantive law and procedural law in our country the construction of more detailed analysis of the two aspects of the improvement of the system of delisting path.