Research On The First Payment System Of Securities Market

The implementation of Chinese securities law plays a very important role in safeguarding the legitimate rights and interests of investors,regulating the trading behavior of the securities market and ensuring the healthy development of the securities market.In recent years,Chinese securities market has developed rapidly.Small and medium-sized investors have become the main force in Chinese securities market.As the role of the securities market in Chinese economic development is growing,the protection of small and medium-sized investors is particularly important.The emergence of the first payment in the securities market has opened up a new situation to solve the problem of civil compensation in the securities market.It has improved the responsibility mode of the securities market,and is more conducive to protecting the rights and interests of investors.It is also conducive to improving the operational capacity of Chinese securities market and creating a good Market environment.The first payment is a preliminary exploration stage in Chinese securities market,and the development is not mature enough.At present,,there are only three cases of advance payment in the securities market,namely Wanfushengke case,Shenzhen Hailian News case and Xintai Electric case.The operation of a case has certain guiding significance,but they also expose many problems in practice.The emergence of these problems has led us to think about the pre-payment system of the securities market.This paper takes three pre-payment cases as the case base.The purpose is to improve the current situation of insufficient protection of investors in Chinese securities market.and introduce the positive significance of introducing the advance payment system to the development of Chinese securities market,and analyze the advance payment system of Chinese securities market.The existing problems raise proposals at the legal and institutional levels.In the structure of the article,the first chapter of this paper is the introduction,which explains the basis and background of the topic.The second chapter discusses the generation,concept and significance of the first payment from the theoretical level,and lays the direction for the later discussion.The chapter mainly expounds the status quo of the securities market first payment system from two aspects:legislation and practice.The fourth chapter analyzes the current situation and summarizes the problems and shortcomings of the current payment in the securities market.The last chapter is to improve the advance payment in practice.Insufficient operations,suggestions from the system construction.