Research On China’s Listed Companies Delisting Legal System

Withdrawal of listed companies, also known as termination of listing or delisting, is the practice that the shares of listed companies no longer continue to be traded on the securities market due to various reasons. Delisting is the inevitable result of the effect of survival of the fittest exerted by the market mechanism, a significant mechanism to regulate the securities market as well as an important way to improve the quality of listed companies and protect the interests of investors. The main contents of the delisting legal system cover a series of legal provisions concerning delisting reasons, delisting standards, delisting procedures, information disclosure during the process of delisting, securities trading after delisting and so on. China’s securities market develops relatively late. It was not until2001when PT Narcissus, Guangdong Kingman A failed to stop loss and subsequently delisted when the grace period was due that the delisting mechanism of China’s securities market was launced officially. Since the establishment of the delisting system, thanks to the efforts of various aspects, China’s securities market has undergone rapid development, and achieved gratifying results. Nevertheless, because of the particularity and complexity of China’s securities market, it is still a long way to go before a healthy and orderly stock market exit mechanism is really established and the role of the delisting mechanism in the allocation of resources is put full play.Shanghai and Shenzhen Stock Exchange, the main article is a combination of a new release of the new programs on delisting of listed companies in China’s legal system introduction, and then on the legal system of China’s listed companies delisting research problems, put forward a sound legal delisting of listed companies system, affirmed China’s listed companies delisting new scheme is reasonable, pointed out that I had listed companies delisting standards of perfection and delisting procedures for the improvement of areas, in order to build a complete legal system of listed companies delisting. In this way, a complete delisting legal system can be established. The present paper employs such research methods as comparative analysis and integrated induction to study and analyze the problems of China’s delisting legal system and then suggests some solutions with the aim of standardizing and perfecting China’s delisting legal system.