A Study On Securities Equity In Paperless Background

China’s securities market is formed in the early 1990 s, it is a common product of the reform and opening-up policy and economic system transition. At that time,China’s securities market is not suit for paperless securities, then, with the rapid development of computer technology, the securities market sets off a wave of paperless all over the world, paperless securities gradually replace the paper-based securities. China’s securities market also follows the wave of paperless, in 1999China’s securities market rid itself of paper securities drastically, realized paperless securities. This disruptive change makes the issuance and trading of securities more efficient and convenient. But because of the late formation of China’s securities market, its development is not mature, many contradictions crash between the quick paperless processes and the backward securities system, the rights of securities become outstanding under this paperless background. The ownership, pledge and bona fide acquisition of paperless securities were discussed in this thesis. Also,combining with the paperless processes in other countries around the world, pointing out the problems of the current paperless securities System in China and providing the corresponding solutions.