The Research Of The Non-listed Equity Companies Market’s Supervision System In China

At present, small and medium-sized enterprises’development is restricted by difficult financing in China and the regulations of non-listed company’s equity market are still not perfect. This situation makes the non-listed company’s equity market in a mess.So it is necessary to speeding up the perfection of legal system and strengthening the supervision of non-listed companies. After understanding the research of the situation the author decided to clarifying the history of non-listed companies’development, analyzing the problem of the supervision system in current, learning lessons from the successful experience of developed countries or regions, and putting forward the perfect non-listed company’s equity market supervision system. The main body of this paper is divided into four parts, the specific content is as follows:The first chapter is about the basic theory of share transfer market of non-listed joint-stock company problems.Its basic theoretical problems mainly include the scope of the non-listed company equity trading market, regulation of theoretical basis,and the system of a non-listed company’s equity market value. These help we know the importance of non-listed company equity trading market supervision system.The second chapter is about the comparative analysis of other countries or regions’ over-the-counter market’s supervision system.For the non-listed company equity trading market is an important component of the otc market, it is consistent with the system of the otc in the very great degree.In this chapter, the author takes US,Japan, UK and Taiwan as example by comparing and analyzing from the market regulation, market access standard and information disclosure system.The third chapter is for the development and the supervision of Chinese non-listed companies’equity market in current. In this chapter, the author combs the development course of non-listed company’s equity trading market in China firstly, then analyses the current status of market regulation in China, and found the problems:regulatory administrative, incomplete laws and regulations, market access standard is not perfect, imperfect information disclosure system, etc.In the forth chapter, the author puts forward to how to construct the non-listed companies equity market supervision system in China. After above the analysis of the equity market supervision system of non-listed companies in and abroad, the author suggests how to construct the perfect our country non-listed company equity market’s supervision system:first,we need establish the regulation mode;second, we should perfect the legislation to establish regulatory basis, clear regulation scope of subject and object, division of regulatory system level, make the main functions of regulation mechanism, and build a supervision system on the basis of the market access regulation, the behavior regulation, the information disclosure regulation. Finally, we can build a rotating plate and a delisting system of the non-listed equity companies market.