On The Reform Of China’s Securities Regulatory Regime And Framework

Major economic crisis in the late1920s, first broke in the securities market,a declarationof the end of laissez-faire,Keynesian state intervention instead of Adam Smith’s laissez-faireeconomics,Economic crisis of modern the poor financial regulator formed, the most directmotivation,countries aware of the necessity to develop and implement strict supervision of thesecurities market legal system. China’s securities regulatory institution initially responsible forthe supervision by the Financial Management Division of the People’s Bank of China, theState Economic Restructuring Commission and other government agencies, Shanghai,Shenzhen Stock Exchange, the local governments involved in the management, Shanghai,Shenzhen issued securities market regulation and regulations to establish local regulatoryagencies. After several years of development and major reforms the securities regulatorysystem and institutions, the formation of the China Securities Regulatory Commission and itsdispatched institution. Along with the promulgation of the new 《Securities Law》, China’ssecurities market supervision system construction has entered a new stage.Securities market as part of the capital market, plays a huge role in raising funds, but alsoa long-term, sustained financing market, promote the rational flow of resources. The presenceof the securities market to further regulate listed companies, and to promote the benigndevelopment of listed companies, the stock market is a barometer of the economic market,reflect the macro-economic situation in a timely manner. Over the years, the lessons of thedevelopment of the securities market, the maturity of the market and market players or not ornot with the maturity of the securities regulatory complementary.From the development of China’s securities market and regulatory regime, combiningtheory and results of previous studies, and learn the basic model of the securities regulatorysystem in the world within the system in terms of historical background, social development,and analysis ofthe development of the current securities regulatory regime, condition andproblems, put forward several suggestions to improve the securities regulatory regime, to thebenefit of the securities regulatory system reform practice. There is a lot wrong with thewording be criticism and urge all the leaders teacher!...