In the legalization process of China's securities market,the system for IPO and listing experienced dramatically reforms from Administrative Examination and Approval System to Channel System,and the current Sponsors System,which will gradually evolve to the Registered System.The sponsor system is a imported institution,which is established to enhance listed company's quality and boost the development of the securities market.In 2004,the sponsor system formally implementation symbolized in China.As a new system in our country,it is inescapable to have some disadvantages because the securities market established late in our country and the legal system is not perfect.The drawbacks of China's Sponsor System have already incurred many famous scandals in our securities market,so it is high time that sponsors in our country be strictly supervised,to form a perfected Sponsor Supervision System of China.Perfecting the sponsor supervision system will help to enhance the quality of the listed companies,and safeguard the legal rights and interests of the investors.Stock market will also develop healthily and orderly by the perfection of the sponsor supervision system.Sincerely hope that the perfection of Sponsor Supervision system in China will accelerate the legalization development of securities market in our country. |