China’s Securities Market Information Disclosure System Problems And Countermeasures

Securities are the product of highly developed market economy. With thecontinuous development of China’s market economy, its central position in thefinancial markets has significantly strengthened. Information disclosure issue is thecore issue of securities markets. Securities investors make their rational investmentdecisions after each transaction be analyzed on a number of related information.Whether the stock market can grow healthily and orderly depends on whether therelevant information can be disclosure legally and completely.With the maturity of China’s stock market, the importance of informationdisclosure system gained more and more widespread attention. However, theChina’s current securities market has serious problems and deficiencies. The thesisstudied the problems of the Chinese stock market information disclosure systemthrough comparative law, literature research and normative research method. Andwe can improve our information disclosure system from learning from the Americaninformation disclosure system. This paper deeply analyzed the U.S. stock marketinformation disclosure system, and then targeted to study how China should learnfrom the U.S. stock market regulators in the information disclosure system. Improvethe information disclosure system is not only directly related to the company’sdevelopment, but also related to the effective regulation of securities markets. It hasan important practical significance about how to build a system and improveregulation, to prevent damage to the interests of investors’ incident, maintainingstable and healthy development of the securities market and protect investors’interests.For the problems existed in China’s securities market information disclosuresystem now, it should be combined with China’s actual conditions to give advice tobuild a suitable information disclosure system for the develop ment of China. In thisregard, the Commission should be improved to regulate the information disclosure;the securities markets should be more self-regulation; public and media supervisionshould be increased; the China Securities Regulatory Commission Disclosure shouldbe strengthened; found corporate governance structure of listed companies; activelycultivate independent non-mandatory information disclosure environment; improvethe information disclosure system design framework relevant laws and regulat ions,and improve the civil compensation system information disclosure to build aregulatory mechanisms disclosure regime.