The Research On Strengthening The Supervision Of Listed Companies Under The Background

Finance is the blood of the real economy,and listed companies are the excellent representatives of the real economy.At present,China has the second largest GDP and the largest amount of middle classes in the world,the residents’ enthusiasm of investment and financial management also continues to rise.According to the latest list of the world’s top 500 companies published in 2019,China had a total of 129 companies on the list,and surpassed the United States to become the world’s number one for the first time.The vast majority of the129 companies are listed companies or listed companies’ parent companies.So it is of great significance to do a good job in the supervision of listed companies.The stock issuance system is the foundation of the development of modern finance.It refers to the mechanisms and rules followed by the registration review of listed companies’ stock issuance.The stock issuance system and the listed company’s supervision system are mutual promotion and mutual restraint.On the one hand,the stock issuance system will affect the quality of listed companies,and then determine the formulation of the listed company’s regulatory system;on the other hand,the reform of the listed company’s regulatory system will directly affect listed companies and make a substantial assessment of the implementation of the stock issuance system.The stock issuance system is constantly changing with the development of a country’s economic and social development.With the continuous development of the economy and society,the approval system has gradually revealed some drawbacks,such as excessive review time,intervention market regulation,hidden corruption risks,etc.At present,the developed capitalist countries have implemented the registration system and achieved good results,such as the United States and Japan.In recent years,China has also continued to promote the reform of the stock issuance system.In July 2019,the stock issuance registration system was piloted with the establishment of the science and technology board.This is not only a measure to comply with the development of the times,but also a major factor in promoting China’s entry into a comprehensive well-off society and a key link to promote the sustainable development of China’s economy and society.So it has great significance to study how to integrate the registration system with the supervision of listed companies.Based on the institutional analysis of the registration system and the supervision of listed companies,this paper deeply studies the problems faced by the listed companies after the implementation of the registration system,analyzes the reasons for their occurrence,and absorbs the experience of the US and Japan capital market supervision,and then puts forward corresponding opinions and suggestions on how to strengthen the supervision of listed companies after the implementation of the registration system in China.This paper consists offour parts:The first part begins with the concept and actual analysis,and elaborates on the registration system and the related systems of the supervision of listed companies in China.The second part puts forward the problems faced by the supervisors after the implementation of the registration system,and analyzes the causes of the problems.The third part draws on useful experience through comparative analysis of the characteristics of the US and Japanese capital market supervision.The fourth part,based on the above analysis,proposes to strengthen the supervision of listed companies in the context of the registration system.