Probe Into The Information Announcement System Of Unlisted Companies

Unlisted companies are a basic unit of social economic entities. The opportunity occurs to probe into the information announcement system(hereinafter referred to as “the system”) of unlisted companies due to the publication and enactment of Interim Regulations of Corporation Information Announcement. The thesis plans to look into “the system”: origin, status, influence, establishment and protection with statistics and cases to reinforce the argument.The first part of the thesis introduces the origin of “the system” and demonstrates the meaning of its establishment, as well as the necessity of it existence from the two perspectives of reality and necessity. In the aspect of reality, the thesis looks into the legal system in modern time, ancient Rome and Germany to support that “the system” doesn’t come out of nowhere but has its origin and a slow process of development. Meanwhile, It is supported in a view of necessity that implementing “the system” can bring values to law including liberty, impartiality and honesty.The second part of the thesis is embedded with a main thread of “mapping the information announcement system of unlisted companies” to look into the difference between “unlisted companies” and other forms of companies like “joint-venture”, “sole proprietorship” and “listed companies”. Based on the sixth term in the Corporation Law, the thesis further discusses te concepts of “public”, “information inquiry” and “information change” and intends to explain the practical meaning and disciplinary value of the probe into “the system”. For the ways of argumentation, the second part demonstrates from the angle of “Interim Regulations of Corporation Information” and “credit rating agencies”, aiming to present a multi-dimensional and direct information announcement system of unlisted companies. The end of this part also introduces the legislative situation, measurement standard and practical experience of “the system” to clear the position of the system in the Corporation Law and Commercial Law.The third part follows the demonstration of the second part to further analyze the “legislative situation”, “measurement standard” and “practical experience” of unlisted companies. First of all, in the aspect of system, it is expected to build a classified and layering information management system and reference system as “drawer management” to fill the blank of “legislative situation”. The reason of introducing this system is based on the consideration of Corporation Law and Organization Law. Secondly, corporations are only divided into limited liability companies and joint stock companies in the traditional Corporation Law. However, the corporations in reality may have an overlapping under different legal systems. Especially after the Corporation Law was revised, the companies don’t have the threshold of minimum capital. “One unit companies”, “group enterprises” and “international enterprises” are no longer largely identical with minor differences. In the social management, market management department also adopts different kinds of registration based on different supervision levels instead of simple “juridical person system”. Therefore, due to the gap between the two facts and regulations, classified and layering information management system is chosen to make up the difference of corporation registration system and to offer more detailed information announcement references to the company’s decision makers in the form of regulations and rules. Thirdly, the corporation involves various subjects of right. Thus the demonstration is made based on the “human” to avoid the thinness and indifference and solve the problem of the “practical experience”. China is a socialist country ruled under law and the law should be people-oriented. Different subjects should be given different responsibilities and various standards for adducing evidence should be adopted to protect the rights of all subjects and guarantee the “flexibility” of the system. Only by coordinating the relationships between “humans”, the system can truly play their role.The forth part is about the operation security mechanism and long-standing effective mechanism of the system. No system is perfect and all should keep on improvements. The forth part chooses the “registration system of sources” and “the management of online celebrities” as supplementary to state the improvement of information announcement system of unlisted companies. The value of system lies on the implementation. The accumulation of practical experience can reflect the operation of the system and improves the system. The implementation of the system is attached great importance.