Research On The System Of Issuing And Listing Stocks

Stocks listed on the stock market is one of the basic system, plays a pivotal role.Issuing and listing stocks verification system is reasonable or not, not only directly related to the stable and sustainable development of the securities market, but also a direct impact on the confidence of investors.Different stages of development in each country market, issuing system has undergone a process of continuous exploration and gradually perfecting the process.Since China's stock market is "emerging increases transition" featureits vetting system was listed on the special role and a certain special effects.This is the decisive factor in the current situation of China's stock market,and the stock market system is also one of the root causes of structural deficiencies.This paper from the major overseas markets and changes in the system for issuing and listing stocks audit experience and inspiration.China's system for issuing and listing stocks audit also reviewed the evolution of the development process, the comparative study,Analysis of China's stock listed on the role played by the system of vetting the problem and its causes and as a result,and the relevant guidelines and measures for reform, this system will contribute to the reform of China's securities market and market reform,to achieve a sustained and stable development of China's stock market.This article proposes following several major points in the comparative analysis foundation::1.Stocks listed on the stock market is one of the foundation, the core of the system in the stock market.Audit system (listed with the power to examine the issue of the right to audit the arrangements between different agencies) and audit principles (of substantive regulation or merit standard or registration,real audit or examination forms) is listed on the two key elements of the audit.2.China's stock is listed on verification system "listed audit integration" (ie mandatory listing system) and the "real screening examination" to the two major characteristics.In real examination-oriented examination and approval (including the prior approval system) led to inefficient screening,its consequences is the damage to the market mechanism.