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The Research On The Improvement Of Securities Supervision System Of China

Posted on:2016-07-01Degree:MasterType:Thesis
Country:ChinaCandidate:B LiuFull Text:PDF
GTID:2296330461462276Subject:Constitutional law and administrative law
Abstract/Summary:PDF Full Text Request
The rule of law is top priority of harmonious society for modern China. As the 18 th National Congress of the Communist Party of China and the 3rd and 4th Plenary Session of the 18 th CPC Central Committee was held in succession, the word “Rule of Law” has been a buzzword nowadays. The grand blueprint to form a system serving “the socialist rule of law with Chinese characteristics” and build a country under “the socialist rule of law” has already been drawn up. China will work to build a law-abiding government. Consequently, the reform of securities supervision system of China seems ready to come out at its call. The Act of Securities of China went into effect on I July 1999 and was amended in 2006. However, the Act needs to be perfect as the securities market has stood on the threshold of enormous changes below the new market economy environment.With the background of “Rule of Law” and construction of a service-oriented government, the New Securities Law of the People’s Republic of China has been revised and adopted at the 10 th Meeting of the Standing Committee of the 12 th National People’s Congress of the People’s Republic of China on October 31, 2014. The New Act hereby is aimed at strengthening the top layer design and the master plan for future securities market especially according to the principles of marketization, legalization and internationalization. In spite of the fact that there are a few modifications in The Act of Securities of China of 2014,people are looking forward to witnessing the great changes since it’s fully implemented as soon as The Measures for the Administration of the Takeover of Listed Companies and The Company Law shall be amended. Meanwhile it has been 11 years as of the distribution of the Notice of the State Council on Promoting the Reform, Opening and Steady Growth of Capital Markets(Guo Fa [2004] No. 3). China’s capital markets have embraced rapid growth and rapid stunning achievements. With scale-forming on a preliminary basis, continuous improvement of the market infrastructure, gradual perfection of the legal system, and further upgrading of market standardization, China’s capital markets have become an important component part of the socialist market economy by contributing greatly to the reform and development of state-owned enterprises and the financial market, to the optimization, of resources allocation and to the promotion of economic restructuring and growth.From the point of administrative law of view, the article is proposed to make a deep study and exploration on the improvement of supervision system of securities market of China. This paper is divided into five parts. The first part is the introduction while the last is the conclusion. The three middle parts are of paramount importance where, respectively, firstly, it summarizes development of securities supervision system of China and it makes a study and discussion on the insufficient securities supervision system, such as the imperfection of concept, Securities Regulatory Commission and measures; secondly, it makes a study and comparison on securities supervision systems throughout America and analyzes its Sarbanes-Oxley Act as a result of some enlightenments to China; lastly, it puts forward some advices on establishing a more perfect securities supervision system of China through marketing and legalization and makes a systematical analysis on establishing securities supervision system of China from what it’s discussed above.It’s just a brief summary. Still, it is expected that the study may shed light on the the improvement of supervision system of securities market of China and thus is conducive to behave well to achieve a successful and bright future of Chinese financial markets.
Keywords/Search Tags:Securities Market, Supervision of Government, Securities Regulatory Commission, Sarbanes-Oxley Act, Administrative Law
PDF Full Text Request
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