Analysis Of The Effectiveness Of The Sponsor System In China

The sponsor system is stem from Nominated Advisers used in the AIM of London exchange market as the outstanding success of AIM。It undertake the role of guidance,recommendation and supervisor when the corporation through the admission process and its subsequent life as a public company in the exchange market. its essence is through the introduction of a third party (sponsor) of listed companies with its expertise in counseling, recommendations and monitoring to ensure that the recommended firms to meet the listing requirements, and ongoing supervision of listed companies to comply with market rules and disclosure of information in order to achieve the effective functioning of the exchange market. The sponsor system as a risk control mechanism was used in many countries and achieved a more significant effect. To improve the quality of listed company. February 1,2004 the sponsor system. of our stock marker was formally established.5,2009 further amended the period applicable to the Main Board and Growth Enterprise Market of the sponsorship system in China has been improving gradually. However, due to the issuance of securities regulation, but still, for misunderstanding of the Sponsor status and with design flaws. Sponsor system in China is running six years does not look good, the quality of listed companies the situation is still grim, while the sponsor system in practice led to many new problems. Transplantation of the sponsor system would seriously affect the success of GEM, it is necessary to further sort out the defects and Analysis.This article is consisted of three parts including the foreword, the body and the conclusion. Body part is divided into five chapters.The first chapter is about the concept of the sponsor system, characteristics, origin, basic principles and functions of the basis for the operation of the sponsor system. Although this part is less controversial, but it is necessary to explanation for analysis of the essential principles of the sponsor system.The second chapter is the introduction of the sponsor system, our legislative background, objectives and content of our sponsor system, the main purpose of this chapter is to provide the basis for the analysis of legal relations on the next step.The third chapter is about analysis of the legal relationship between the sponsor system, and launch the special nature of the sponsor, the sponsor system operating status and conditions of validity.The fourth chapter is about analysis of the present deficiencies in the sponsor system. Using the comparative method, historical method and system analysis. During the operation of the sponsor system integration phenomenon to explain the contradictions and conflicts, draw their causes.The last chapter is about the legislative proposals of our sponsor system.