Analysis On The Efficiency Of Chinese Growth Enterprise Market Regulatory Institutions

October30,2009, Chinese formally introducing growth enterprise market, highgrowth enterprise to provide for the high-tech resources optimization allocation of theplace, but GEM after successfully launched there is a lot of non-standard place, theseproblems not only affect stock circulation market operation, more causes the entire stockmarket the effectiveness, obstruct the securities market health, sustainable development.And the issue as a growth enterprise market supervision of the healthy development of thefirst a firewall, and its effectiveness will directly affect the stock market development andstability, the influence to the stock market allocation efficiency of resources. Therefore,how to improve the gem circulation market supervision effectiveness and promote thegrowth enterprise market reach efficient allocation of resources, will be the main researchcontents of the paper.In this paper the domestic and foreign relevant theory to comb, and on the basis ofsecurities regulation and supervision of the validity of defined clearly the research contentsof the article. And on this basis to the current issue of the gem market through empiricalanalysis, combined with advanced foreign growth enterprise market supervision ofsuccessful experience, and that the current our country growth enterprise marketsupervision effectiveness is insufficient, and to improve the regulatory effect, you must dothe following four aspects: first, the interests of investors clear maintenance regulatory idea;Next, should be emphasized the importance of the regulatory process informationdisclosure link, market participants to eliminate the information asymmetry between thephenomenon; Again, reform the inquiry system, strengthening the montority of the: finally,this paper suggests that should strengthen the media and other social organizations in therole of the gem issue supervision, to promote market transparency.Throughout the full text, this paper in seeking truth from facts and rigorous scientificprinciple, take the theoretical analysis and empirical research to combine together,measurement analysis and generalization of the comprehensive study analyzing method foridentifying, measuring and control local financial risk, can provide the scientific operationof empirical model and reference solution, have very important realistic meaning andreference value.