A Study On The Introduction Of Securities Issuance Registration System In China

The development of China's securities market for decades,the securities issuance review system has undergone a change from the approval system to the approval system.Nowadays,with the continuous improvement of the level of economic development,the degree of capital marketization is deepening,and the existing securities issuance system has its drawbacks.To meet the needs of the securities market,and the advantages of the securities issuance registration system has also been highlighted,the reform of the introduction of the securities issuance registration system in China has been put on the agenda,and the research on the introduction of the securities issuance registration system in China is also deepening.Through the research and analysis of the overseas securities issuance registration system,this paper discusses the shortcomings of China's securities issuance review system,finds out the comparative advantages of the registration system,and proposes feasible strategies and methods for the introduction of the securities issuance registration system in China.In addition to the introduction,the first part of the main body of this paper is mainly a general investigation of the overseas securities issuance registration system.By studying the origin and evolution of the overseas securities issuance registration system to find its advantages and basic conditions,this paper selects the overseas securities issuance registration system.The typical United States and Japan conduct research to find out the common conditions for the good operation of the registration system,and provide reference for China's implementation of the securities issuance registration system.The second part is mainly to study the necessity of introducing the registration system of securities issuance in China.From the performance of China's securities issuance review system,this paper analyzes the implementation effect and historical contribution of the securities issuance approval system,and then finds out the shortcomings of the current securities issuance review system and the various difficulties caused by it,which leads to the need for securities issuance registration system.reform.The third part mainly discusses the dilemma faced by China's introduction of securities issuance registration system,including excessive government intervention;the existing regulatory system is flawed;the information disclosure system is imperfect;and the listed companies are difficult to withdraw from the market.These dilemmas are China's introduction of securities issuance registration system.The stumbling blocks in the process need to be properly solved.The fourth part is to solve the dilemma faced by China in introducing the securities issuance registration system.It mainly clarifies the boundary between the government and the securities market;establishes a diversified and decentralized management system;establishes a sound information disclosure system and improves the listed company's retreat City mechanism.These solutions are all considered from the perspective of the external environment.In addition,there are also Chinese-style transformation plans and introduction paths for the introduction of the securities issuance registration system.