The Research On Chinese Delisting System Of GEM

With the launch of China's GEM. directly delisting system of GEM that received attention from all walks of life is yet to come because it touch the interests of all parties. At present China's academic circle and business circle agreed that it is the envitable trend that China establish the delisting system of GEM. but there are divergent views on specific system designing. Overseas countries and regions'research payed more attention to delisting standards and the differentiated designs of the regulatory idea. The study of delisting system of GEM has just started in China.The delisting of listed company of GEM not only manifests the value of law such as interests. efficiency. order etc.but also the inevitable requirement of optimizing the market resource allocation of GEM.is the important measure to promote GEM company to good governance and improve quarlity. is the effective way to reveal the market investment risks and form a rational invest culture. and also an effective approach to improve the efficiency of market supervision.At present.the establishment of direct delisting system our country's GEM are facing both a rare historical opportunity. and also suffering a unprecedented challenges.An overview of the delisting system of Main Board Minor board and GEM shows that problems appearing in the Main Board has not been sloven in GEM.which are simplicity of the rules and complication of delisting procedures. And the Growth Enterprise Market delisting mechanism still has more problems.The delisting system of GEM shall draw on experiences of the other countries .The rules of quantitation and quality must be refined. the process of passive and initiative delisting procedures must be perfect. and a composite mode-ordinary way and direct delisting -must be brought. Strengthen collaboration delisting regulation. divide the power between regulatory authorities and delisting decision-making. make clear the duty of delisting riskl for local government . improve the delisting risk prevention comprehensive regulatory system.Especially should be based on the principle of protecting minority investors'interest.breaking through the law and system obstacles of judicial relief. reasonably determine the plaintiff of judicial relief. introduce Taiwan subrogation litigation system of securities tort. complete the judicial relief legal framework and system design of investors interests.