Research On The IPO Review And Supervision Power Distribution System Of The Science And Technology Innovation Board

The establishment of the Science and Technology Innovation Board is a symbolic innovation in the development of China’s capital market.As an innovative experimental field of capital market registration system reform,the Science and Technology Innovation Board is an important breakthrough in establishing a market-oriented multi-layer capital market system in China.China’s economy is in the stage of transition from scale expansion to high-quality development.Today,science and technology innovation and technological progress are becoming the main driving force of China’s economic growth,and the Science and Technology Innovation Board provides financing channels for new technology enterprises.Therefore,the distribution of reviewing powers,which plays an important role in system establishment,is a topic worth discussing.This paper takes the distribution of the reviewing powers of listing and issuing between CSRC and Shanghai Stock Exchange as the target,and puts forward suggestions on the establishment and improvement of the multi-layer capital market system.The structure of the paper is as follows:The basic content of this paper includes four chapters in addition to the introduction and the conclusion:The first chapter starts from the establishment of China’s capital market,and studies the basic positioning of the Science and Technology Innovation Board,with a discussion of its connotation,characteristics and time orientation;The second chapter discusses the choice of the distribution of reviewing powers of listing and issuing,with analysis of the four theoretical models;The third chapter starts with the history of the distribution of IPO reviewing powers in China,and discusses the distribution mode of the Science and Technology Board,pointing out that the separation mode is an inevitable choice for it;The fourth chapter analyzes the challenges and their coping strategies of the distribution of IPO reviewing powers,with discussions of the supervision power of CSRC,and the corresponding supporting system.