China's System Of Restricted Share's Circulation And Analysis

The Circulation era has made China's securities market more international and market-oriented, at the same time, it also brings reality impacts and system test to the market. To perfect the system of securities market, based on a correct understanding of the current situation and reassessment of the existing system. Therefore, the first three chapters, starting from the concept and analysis of the current situation, through the dispute of micro-controversial, combined with comparative method and analysis of the Microscopic regulation to promote the development for the China's system of restricted share's circulation. The forth chapter from the IPO and pricing system, tried to find deficiencies and omissions of the existing system on how to determine reasonable limits sale of shares of the cost and size. And by discussing the introduction of exchangeable bonds, find another channel to reduce the Restricted Shares to ease market pressures. In addition, by thinking how to levy the income tax of reducing the restricted shares , intend to the question of how to make relevant thinking, intended to use macro-control means to resolve regulatory challenges of the Restricted Shares .The first chapter is the overview of the Restricted Shares .From the Restricted Shares of the contents and present conditions, this chapter try to give an analysis of the reform of Restricted Shares and starting Restricted Shares of the existence of the basis. It is also discussed that China's Restricted Shares and other countries and regions, markets Restricted Shares of the differences and relations havethe Restricted Shares in China's conclusions of historical particularity. The second chapter is the discussion of the specific provisions on the Restricted Shares flow system.According to the first chapter on the Restricted Shares summary, this chapter focuses on the negative effects of the Restricted Shares, Including the capital market side effects, price effects, the impact on investor behaviours. Then it gives a discussion of the distribution system in the Restricted Shares that exist in the Vacancy and omissions, including the lifting of the ban caused Restricted Shares when the big difference between cost and price of the IPO distribution and the legal regulation of rationality of reduction process and the reduction.Chapterâ…¢trys to offers the effective solutions based on Chapter II defects found by the issue of specific legislation. First, it takes discussion of the stock issued in our system barriers and solutionsthe system around the IPO way of issue of the stock, combined with the existing stock of deficiencies of the existing distribution system analysis. Secondly, focusing on IPO pricing system, and distribution system of inquiry in our role in the institutional barriers , it trys to find out how reasonable and fair to determine the cost of restricted stock and circulation sales price. Thirdly, it analysises how best to broaden the Restricted Shares of the channel, the alleviate market pressure on the issue of fundingthe limit for the reduction of selling shares during the exit problem. Finally, after the reduction stage and around the country have taken Restricted Shares tax system out of the Restricted Shares to a reasonable manner, this paper gives ways to resolve the Restricted Shares of the regulatory challenges and achieve the lifting of the ban to alleviate the impact of restricted stock sales results.