GEM Dlisting System Research

GEM Delisting System is an important system for the protection of the GEM market’s healthy development. China Since the launch of the Growth Enterprise Market (GEM), about GEM delisting system have been constantly improved. Only to establish a scientific and reasonable delisting standard and delisting procedures, can we achieve the smooth development of the listed companies delisting, to solve the long-standing delisting problems of China’s securities market, so as to really build a fair, efficient, competitive and orderly GEM market.The delisting criteria and delisting procedures is the core of GEM delisting system. China’s listed companies delisting standards exist over a single design, not specific enough, and thus will encounter many obstacles in the actual operation. Mature GEM countries in the NASDAQ market in the United States, the United Kingdom and the Alternative Investment Market delisting standards designed to provide us with a useful reference. Provisions of the GEM market delisting procedures are not stringent enough, there delisting too long, the the delisting process reasonable protection of the lack of effective supervision of listed companies and push the interests of investors. China’s new GEM stock delisting rule, made a lot of improvements For the delisting procedures exist for a long time China’s motherboard market problem continued listing standards, subject to certain conditions, to accelerate the the delisting speed. The new delisting procedures canceled the risk warning processing system, the more stringent requirements on information disclosure of listed companies, and the introduction of many new initiatives GEM delisting procedures tend to improve.The purpose to set up the GEM delisting system is not only for corporate expulsion that does not meet the continued listing conditions, It also relates to the protection of the delisting of the company’s stock trading and the interests of small and medium investors. Therefore, the establishment of a comprehensive multi-level capital market and strict the delisting accountability compensation mechanism is imperative. Compared to China’s agency share transfer system motherboard market and GEM market operation mechanism, market size and performance play there are still many gaps, needs to be improved and perfected. The delisting accountability mechanisms to establish and improve standardized corporate governance, the protection of minority shareholders Lee crucial, and should improve the law as soon as possible, to protect small investors the right to appeal, established class action subrogation system to ensure that the delisting damages implement.