The Improvement Of China's Stock Issuance Information Disclosure System Under The Registration System Reform

Information disclosure is the core line of stock issuance. The result of registration system reform is directly affected by information disclosure system. Information disclosure is including the issuing information disclosure and continuous information disclosure. Among them, issuing information disclosure, as the first step of stock issuance, is the preparation for the stock step in the stock market. Stock issuing information disclosure perfect or not, is directly affecting the price of the stock and the decision of investors, related to the protection of the investors' interests and the stability of the stock market. At present, our country is under an important period that authorized system transiting into registration system, the original information disclosure legal system which created by the idea of authorized system has been difficult to meet the reality of our country's securities market, lead to lots of problems emerged in stock issue information disclosure system, under urgent update requirements. The paper means to compare the different of information disclosure between registration system and authorized system, and under the guidance of the translation of idea. Then consider about the situation and problems of stock issue information disclosure system, and finally find the way to reform the information disclosure legal system.