Gem Sponsor Regime

The basic source material of this thesis is the sponsor system in some developed second board, such as the AIM of England, the MESDAQ of Malaysia and the GEM of Hong Kong. After comparing and analyzing the supervision system, the basic content and the basic general, situation of these sponsor systems, we realize that the effective operation of these systems rely on a corresponding legal environment. We then compare the legal environment with that of our country and come to the proposition that the sponsor system design of our country must be extended according to the local legal environment.