Research On The System Of New Three - Board Market Transfer In China

In 2015, the new Third Board Market in China has experienced an explosive development and there were also more than 5000 companies listed on it by the end of 2015. As an indispensable part of diversified capital market in China, the development of the new Third Board Market is advantageous to capitalization of middle-and mini corporations. And it is also helpful for corporate’s standardization and building enterprise’s brand. Eventually, it will useful for realizing the prosperity of the multi-layer market economy in our country.Although, the multi-layer capital market system of our country has been already set up, including the main board market, the second board and the new third board market. It provides the strong support for the development of the market economy in our country. But the capital market system of our country is not an organic whole, we need to set up the Transfer Mechanism to bind the capital market in each layer together. If we set up the true Transfer Mechanism, it can encourage positive competition in the listed companies, optimize the allocation of resources and improve the system of multi-layer capital markets finally. Nonetheless the system is incapable of being rolled out rapidly. We should carry it out step by step based on experience in the developed countries（regions）. Then it can insure the healthy development of the multi-layer capital market in our country.The article analyses the Transfer Mechanism of the new third board market in our country,and it mainly includes four parts: the first chapter analyzes the reason for building a real Transfer Mechanism in our new third board market,The second chapter analyzes the defects of the Transfer Mechanism now in our country,in the third and fourth chapters I put forward the new methods for the construction of the new third board market which are based on the advanced Transfer Mechanism of the new third board market in the United States, Britain, Taiwan and Hong Kong. Wish that it could have some effect on constructing Transfer Mechanism in our new third board market.