Analysis On Feasibility Of International Board At Chinese Securities Market

China’s international board refers to the plate that is formed by foreign enterprises or red-chip enterprises issuing in China’s A share market. These A-share listed enterprises because of the nature of the "offshore" are divided into "international board". China’s establishment of the international board is a necessary stage of development in the process of internationalization of the securities market. As early as in2007, the idea of the establishment of an international board was initiated. In2009, Shanghai announced the implementation plan of the construction of "two centers" to build Shanghai into an international financial center by2020. After the release of this plan, all eyes began to focus on the establishment of the international board of the China’s securities market. The establishment of the international board would help to improve China’s international competitiveness and influence and to strengthen our financial system’s ability to resist risks.This article is divided into six chapters. The first chapter comes up with the introduction. The second chapter firstly introduces international experiences of the international board and influences, and then learns experiences of other countries while United States, Japan, South Korea and Hong Kong are selected as research subjects to provide a reference for the establishment of an international board for China. Then, this chapter analyses international board’s influences. Chapter3conducts an analysis of the balance of interests on the international board through a first study of Stakeholders of the international board and a second study of the relationship between stakeholders by equilibrium model of interest. Chapters4and5perform the analysis of the feasibility of China’s international board in both the macro level and the micro-level. Chapter6makes the conclusions and comes up with policy recommendations. The first part is the conclusion of the above study. And the second part then brings forward countermeasures based on deficiencies, to enhance the feasibility of the international board.This paper, based on the above study draws a conclusion that although China now already has the conditions for the establishment of an international board, but it still has to wait the right time to implement establishment of an international board as a result of corresponding standards and systems in need of further improvement and a weak securities market due to the impact of the international economics.