A Study On The Registration System Reform Of The Public Offering Of Stock In China

With the further development of the market economy, the current stock public offering defects and the insufficiency of approval system emerged gradually in our country, mainly administrative control excessive, "Rent-seeking" phenomenon seriously, issuance audit problems such as low efficiency, the need for reform and improvement. The Third Plenary Session of the 18 th held in November 2013, the registration system reform as the focus of the reform of the capital market to carry on the elaboration, after the public offering of stock registration system reform has also become the primary task for the reform and development of the capital markets. In accordance with normal procedures, the CSRC only after completion of the revision can launch registration system reform scheme, but in terms of the present stage, the securities law were modifications also will take time. In order to deal with the situation, the government tried to through the way of the NPC specifically authorized to advance registration system reform scheme. On December 27, 2015, the standing committee of the NPC is approved the special authorization shows that the strong determination to highlevel vigorously advance registration system. However, the registration system reform is an urgent to need to recuperate and a gradual processes, it will not be achieved overnight.In addition to the introduction and conclusion, the full text is divided into six parts:The first part is begins from the concept of public offering, points out that the research emphasis of this article is the purpose of listed shares of initial public offerings. The second part is registration system and authorization form comparative analysis theory, points out the essential difference is whether to carry on the substantive examination. The third part is briefly discusses the related system in main developed countries and regions, puts forwards that our country should give full play to the role of the stock exchange, and pay attention to the information disclosure system. The fourth part focuses on analyzing the history and status quo of stock public audit system in China, points out the main problems of current system.The fifth part as the full key, points out that the practice registration system reform has the practical significance of many sided, and the corresponding challenges. The sixth part is establishes on the basis of the fifth part combined with the implementation of the registration system reform conditions put forward concrete Suggestions, and points out that can imagine in the gem of the first to pilot.