On The Second Board Market Retreating System

Gem market is an important part of capital market. Gem mainly for small businesses issued by listed financing. Because of gem service object in the stock index fluctuation, being the more violent, performance of listed companies is not stable governance structure is not perfect, the information disclosure may not timely. Gem listing company equity is less also resulted in easily be banker control. So, in order to gem own stable healthy development and protection of investors to maximize it is necessary to gem to strict especially to enforce delisted system. Because of gem is different from main board so the delisted system is different from the main board market. To withdraw from the market system in our country is beneficial to the development of the gem. Outside the gem market has been running for many years the relevant delisted system of successful experiences and failure lessons worth for our country gem market delisted system for reference. China’s current gem delisted system in May this year started but which still needs to be sorted out there are many shortage. Gem delisted system is a complete system including lack of small and medium-sized investors protection. In order to improve delisted system to protect small and medium-sized investors interests should be in the system of civil lawsuit increase group litigation content. This text is divided into four part. The first part is the overview of gem delisted system. This chapter introduces the gem content to withdraw from the market system of the basic concept of gem delisted system classification and characteristics. Besides emphatically expounds the current gem delisted system all content. The second part is the other countries and regions gem market delisted system comparative study. This chapter focuses on different gem delisted system in each market compared to the success and failure of the reason. The Nasdaq and the UK market AIM is critical to the success of the interests of investors maintain strict law enforcement. New German market failures and Hong Kong gem market destruction from one-sided pursuit of scale big ignore investor protection and let investors and its tapering off. China’s growth enterprise market of the most important enlightenment is must grasp the investor protection as the core, in the gem in the operation process of strict implementation of delisted standard. The third part is the gem market operation and delisted the shortage of the system. The fourth part is to gem Shenzhen market delisted system construction is the construction of the feasible suggestion. To above questions resolved. In the last suggestions hope to strengthen the protection of investors into group lawsuit system.