The Study On Forwrad-Looking Information Disclosure System Of Chinese Securities Market

Due to uncertain, subjective judgments and other features,forward-looking information is utilized by forward-looking informationdisclosure obligators quite easily. Thus it becomes the guise of misleadinginvestors, appearing some problems, such as misrepresentation, etc. Themost important purpose to build forward-looking information disclosuresystem is to protect the legitimate interests of investors. So once theforward-looking information disclosure obligators implement illegalactivities, such as misrepresentation, etc, they have to take the necessarylegal responsibility. With forward-looking information disclosure system,on the one hand, it should protect the forward-looking informationdisclosure obliges, on the other hand, it also should relieve the worry offorward-looking information disclosure obligators, for instance, theyworry encounter prosecution because there is greater error betweenpredicting outcomes and practical exist. Forward-looking informationdisclosure system only has a good balance between them, that it can bereal and lasting exist.The article used listed company Tianrun Development encounterspecial treatment for the primer; firstly, made an overview of theforward-looking information disclosure system in securities market,introduced the definition, content and the legal relations of forward-looking information disclosure system; secondly, analyzed thesystem from value and economic aspects; thirdly, discussed the realproblem of our forward-looking information disclosure system; finally, inconnection with the problem of Chinese forward-looking informationdisclosure system, and combined with our actual situation, proposedsome suggestions. The author expects the article is useful to thedevelopment of forward-looking information disclosure system inChinese securities market.