The Research On Introducing The Rotating Plate Mechanism In Agency Share Transfer Systemof China

The construction of multi-level capital market is an important task of improving the capital market system at present.The new three board,as an important part of the multi-level capital market,affects the capital market construction.Looking back on the development of the new three boards in the past decade,it has made great progress.The new three board market was established in 2006.The number of enterprises listed on the new three board quickly after 2013 when the national market was expanded.With the companies listed on new three board increasing,the number of transactions and transactions was also growing.In 2016,the new three board implementation of the hierarchical management was approached,enterprises listed on the new three board were divided into two parts,innovation and basic layer,in order to solve questions of differences of enterprises quality and optimize the allocation of resources.In February 20,2017,companies listed on the new three board have exceeded 10,000.However,the companies that were transformed were only 14,and there are many deficiencies in the process of transfer,such as a single way to transfer,lack of liquidity,the problem of market system,the complexity of IPO procedures and so on.It is clear that the multi-level capital market in China is lack of a perfect mechanism.And these problems hindered the long-term development of enterprises,the construction of new three board market and multi-level capital market to a certain extent.Therefore,The issue of the new three board transfer mechanism needs to be solved as soon as possible,in order to promote the construction of China's capital market.This paper takes the new three-board transfer mechanism as the research object,analyzes the existing problems of the new three-board transfer mechanism in China,and makes some suggestions about introducing the mechanism of the new three board.This paper is divided into five parts,the first chapter is the introduction.This part mainly introduces the background,the significance,the research ideas,the research methods,the main innovations and shortcomings of this paper.The second chapter demonstrates the theoretical basis of the introduction of the transfer mechanism in our country,and describes the concept,the category,the significance and the relevant knowledge of the market maker system.The third chapter introduces the current situation of the new three board market from the three new board listed companies,financing,stratification,successful transfer board enterprises.Therefore,readers could understand the new three board profiles.In the fourth chapter,based on the previous elaboration,this part expounds the background of hezong technology,analyzes its transfer plate and transfer cost.From the enlightenment,this paper sums up the existence of a series of problems.In the fifth chapter,according to the detailed analysis of the previous part,the part summarizes the problems in the transfer board and realizes that the multi-level capital market in our country lacks the perfect mechanism.At the end of this part,it makes some recommendations about the introduction of three new board transfer mechanism in our country: First,establishing efficient and convenient transfer mechanism.Second,improving the construction of supporting system.Third,improving the board layered mechanism.