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The Research Of China's Securities Market And Legal Sdjustment After Non-Tradable Share Reform

Posted on:2009-10-17Degree:MasterType:Thesis
Country:ChinaCandidate:H F YuFull Text:PDF
GTID:2189360278958538Subject:Civil and Commercial Law
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As the unique historical system deficiencies of China's securities market, the non-tradable share has being restricting our securities market's development in many ways. On April 29, 2005, the China Securities Regulatory Commission issued Relevant to Pilot Reform Projects Regarding the Separation of Equity Ownership and Trading Rights of Listed Companies Circular, which started the non-tradable share reform, the following is the pilot reform was pushed forward continuously. From the beginning of September 2005, the non-tradable share reform formally spread out in China's securities market, there are about 20 companies to participate in this reform every week in the past. The reform lasted more than one year, at the end of 2006, it completed on the whole. After the non-tradable share reform, what will happen to China's securities market or the corresponding laws and regulations? Based on the reform, this paper attempts to tell us the new changes in the china's securities market after the non-tradable reform. It includes four points: the reform offers a channel for the state-owned assets extracting from the china's securities market, the company mergers and acquisitions has become increasingly active, false information disclosure of listed company highlights. Executive violations increase. Facing such a new situation, the paper tries to give some solutions to improve the laws and regulations. This paper consists of three parts, and the main body is chapter II to III.Chapterâ… : the profile of the non-tradable share reform. This part introduces: the origin, the drawbacks of the split share structure, and the history, current situation of reform. The Charter aims to introduce a comprehensive reform of the origin and progress, in order to pave the way for the following discussions.Chapterâ…¡: the changes of China's securities market after the non-tradable share reform. This part includes four points: the channel for the state-owned assets extracting from the china's securities market, the company mergers and acquisitions, information disclosure, executives' conducts.Chapterâ…¢: the improvement of the civil judicial remedies and administrative supervision in the new situation. Basing on the new changes in the securities market, from the relationship between civil judicial remedies and administrative supervision (civil liability-based, supplemented by administrative supervision), this chapter tries to talk about the improvement of them.The article comprehensively applies the knowledge of law, securities and economics, has a multi-disciplinary nature, its content is related to the development of securities market history, the state-owned enterprise reform, administrative supervision in the securities market and many other aspects of the concept. At present, neither in the field of law, nor in the field of economics, securities, such a comprehensive paper has not yet appeared. This paper is the author's first attempt, in order to advance a blank field.
Keywords/Search Tags:non-tradable share reform, the state-owned enterprise reform, company mergers and acquisitions, disclosure of information, executives act, civil liability, administrative supervision
PDF Full Text Request
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