China’s Listed Company Delisting System Research

The securities market is to solve the contradiction between supply and demand of capital and liquidity arising from the market, he disposed of resources, economic progress and increased national income and have an important significance. As an important part of the securities market, the quality of listed companies to run the healthy development of the securities market has a crucial role. Delisting mechanism is an important part of the securities market system construction, he is to improve the quality of the company, promoting market prosperity favorable protection.Establish delisting mechanism to clean up the market, but the Chinese stock market still exist a large number of low-quality companies delisting system like a dummy. June 28,2012, the exchange released a new board listed companies delisting system program, gradually with the international practice. Perfecting listed companies delisting system is an important step in China’s securities market to mature and improve delisting system will urge listed companies to improve their management, to improve the overall quality of listed companies, the market price distortions and help to change the situation, so that Some blue chip stocks, growth stocks value to be reflected. In the long run, improve the delisting system, it is possible to promote the advance and retreat of the stock market system more complete, optimal allocation of resources to achieve market functions, to further optimize the overall structure of listed companies. With the improvement of China’s capital market and the healthy development of delisting system, the stock market will become increasingly standardized, protect the interests of investors will be more complete, the Commission can fully play its proper functions.This article combined five main content. Section introduction, in the background, significance and status quo, etc; The first chapter introduces some of the delisting system, including the meaning and characteristics listed companies delisting. Introduced China’s current system of listed companies delisting content, and theory about the importance of improving the delisting of listed companies delisting system based on listed companies. The second chapter is the status of China’s listed companies delisting system running, some of the problems faced by Chinese listed companies delisting and reasons for these problems of analysis. The third chapter is the content of the mature market delisting system and Its Implications for China mainly introduces the current delisting system in mature markets, and we need to learn from. The fourth chapter is based on the problem and the reasons presented in this paper, in order to improve the listed companies delisting system proposed corresponding countermeasures. The fifth chapter is a summary of this article.