Research On The Transfer System Of The New Third Board Market

Focusing on the turning board listing system of National Equities Exchange and Quotations(NEEQ) throughout this paper and by adopting methods of empirical analysis and comparison,in order to explain the foundation and significance of the turning board system in China through theory and value.Studying and analyzing the successful experience of American sophisticated capital markets,organizing the legal framework,concluding the disadvantages of NEEQ in law.At last,make several questions about NEEQ clear,such as the necessity of “green channel”, elaboration the rules of turning board,the improvement of the delisting system,regulatory and etc.Part one explores fundamental issues of the turning board listing of NEEQ,involving 3 categories.Firstly,it begins with definition and practice of the turning board system and then concept of the turning board listing system of NEEQ. Secondly, it classifies the turning board into 2 categories and explores 3 main forms of turning board.Part two explores the value of turning board system in jurisprudence,economics and market,in order to make sure it is necessary to establish the system of turning board of NEEQ in China.Part three focus on the studying and analyzing the successful experience of American sophisticated capital markets,include the different access and rules in the New York Stock Exchange, NASDAQ Stock Market and OTCBB Market.Exploring the Registration,Disclosure of imformation and Regulatory to give some reference to China's NEEQ.Part four organizes the legal framework of turning board system, explores the starting and processing.Then concludes the disadvantages and obstacles of turning board in law.Part five explores several problems about NEEQ,such as the necessity of “green channel”, elaboration the rules of turning board,the improvement of the delisting system,regulatory and etc.In order tomake sure the environment for turning board system is proper and suitable.