China's Stock Markets Research

Stock Issuance Market is the site where government or business enterprises raise the social free funds in the form of stocks and transform them into productive capital. Because the stock involved in the securities business is regarded as investment tool in Stock Issuance Market for the first time, it is called the first class market that combines the stock circulating market to form a unified stock market. And Stock Issuance Market is composed of investors, issuers and agencies. Nowadays, the Chinese government is not only responsible for the auditing the material contents but also the management in stock issuing process as Chinese Stock Issuance Market is transiting from government-leading to market-leading.Currently, as for the researches in Stock Issuance Market, the Chinese scholars concentrate their attention on discussing the stock issuing price, jurisprudence and auditing system and analyzing how Chinese Stock Issuance Market is influenced by the stock issuing system. During the process of the discussion and analysis, some experts come up with lots of beneficial suggestions on the innovation of Chinese stock auditing system.In the essay, the author is to study the history of the Chinese stock auditing system, price-making mode and stock issuing mode whose all-round innovational process is expatiated, discuss the current problems in the reform, and proposes some solutions to further perfecting the above three aspects by taking in foreign advanced and successful experience in stock market.There is about thirty thousand Chinese words in the essay which is divided into three parts besides the preface, the Chinese stock auditing system, price-making mode and stock issuing mode. To summarize, the most important and valuable contents include the solutions to the innovation of stock issuing market and some ideas gained when analyzing the inadaptability of the accumulating and bidding price-making model in the current stock market.