Analysis Of Perfecting Stock Market Delisting System In China

In recent years,the number of listed companies in China's stock market increased year by year, but few companies delisting. Low-quality enterprises will be strong shell, leading to long-term occupation of market resources, optimize the function of the allocation of resources cannot play, hinder the development of capital markets. This reflects the problems of the withdrawal of the listed companies in China, so how to improve the withdrawal system of the stock market, to gradually optimize the hierarchical structure of listed companies,China's capital market is an urgent need to solve a real problem.On the basis of studying the relevant literature, this paper summarizes the delisting system of listed companies, introduces the connotation of delisting system, the necessity of establishing delisting system and the evolution of three stages of delisting system in China. Starting from 2016 listed companies Bo Yuan Investment Co.,Ltd. delisting event,focusing on the analysis and analysis of the company's development process, delisting process, the cause and impact of the incident. Bo Yuan investment as the first in the securities market to reach the major information disclosure violations of the case was terminated listed companies,its delisting not only because of corporate information disclosure of internal control and external supervision there are major problems, but also China's current delisting system is not perfect The important evidence.Bo Yuan delisting event reflects the current ST stock off the hat phenomenon is frequent, China's current delisting system in the delisting of the subject, delisting standards and procedures, delisting related entities and access to the system there are many shortcomings. The article elaborates on the above problems and puts forward corresponding decision-making and suggestions. From the strengthening of listed companies to monitor and improve the delisting system of listed companies, delisting the definition and protection of the rights and obligations of the main body, and actively promote the reform of the four aspects of registration system to explore how to deal with China's current delisting system faced by various problems. Finally, the above analysis and argument to do a brief summary and look forward to the next step in the work.