China's Listed Companies Delisting Legal Problems And Solutions

As competition intensifies, people focus more on the financial resources for theabove. In which, the importance of the securities market become increasinglyprominent, relating to the construction of rule of law has become the focus ofattention.China’s securities market has experienced from scratch, from trial to the process ofgradual improvement. The first is developed market system, which has madeenormous contribution for company financing, at the same time listing systemgradually perfect, the delisting system put on the schedule, there are manyunreasonable phenomena in security market, such as "has not come out," inferiorcompany full of securities market and so on, it is not reasonable the, not normal, butthe fact is this.In the face of the enormous pressure, the imminent construction of delistingsystem. We gradually realize that the delisting for the healthy development of thesecurities market, similar to the goalkeeper, it will be of inferior company eliminated,while retaining the quality of the company, therefore, is of great significance to thedevelopment of securities market withdrawal system.At present, in the delisting system, we have quite a number of legal provisions,these provisions provide standards for the implementation of the delisting system inChina, plays an important role in purifying the securities market. However, with thegrowing problems, such as the listing Corporation law system of delisting pooroperability, regulation is not specific, we also recognize the delisting, to furtherimprove the legal system has a long way to go, need to be further developed, and thisis what this article wants to discuss. This article through the evolvement of the reviewof China’s listing Corporation delisting, strategies to solve legal problems in thepractice of.The structure of this paper consists of four parts. The first part describes generaltheory of listing Corporation delisting delisting, from concept to the classification tothe delisting of the significance of each are discussed. In the concept of the content of delisting delisting subject concept, the first listing Corporation is given, then is thelisting Corporation delisting concept, once again, to suspend the listing andtermination of the listing of the simple definition relates to delisting, and on therelationship between the two positioning, finally, considering several theory to findthe delisting of the concept. Classification of the content in the delisting, the delistinglisting Corporation to hold the attitude or listing Corporation delisting causes as thestandard, the active delisting and forced to withdraw from the market are discussed.The significance of this content in delisting, selected listing Corporation, securitiesmarket, investors, optimize the allocation of resources point of view, different effectsof each main body of the description of delisting.The second part firstly reviews the development of the delisting system in Chinalisting Corporation, divided into the embryonic period, development period, improveand mature period. Then analyzes the insufficiency of the delisting law system in ourcountry, two aspects of selection of securities law provisions and securities exchanges,summary deficiencies. On the basis of theoretical analysis, but also elaborated onChina’s listing Corporation delisting of the actual.The third part, analyzes the legal problems existing in China’s listing Corporationdelisting, the delisting law standard is unreasonable, lack of supervision of theexchange, the lack of compensation for the medium and small shareholders incompany delisting responsible big shareholder accountability and delisting, thedelisting system and is not strict to implement in practice.The fourth part, corresponding to the existence and the third part of the listingCorporation the delisting of the question, proposed the solution countermeasure. Inorder to establish a reasonable delisting standards, strengthen the supervision over theestablishment of the listing Corporation, large shareholder accountability and to smalland medium-sized shareholders compensation system, improve the delisting of theexecution.