Researching On Legal Institution Of Classified Stocks In China

Classified stock system,which originated in Western society,is relatively perfect in foreign countries and corresponding supporting measures,but this institution has not been well used in China.In our company law,there is no explicit provision about the classified stocks,but only a general authorization clause.The clearest provision is the "Preferred Stock Pilot Management Measures" promulgated by the SFC.But the legislative level is too low,and there is only one type of preferred stock,there is no provision for other types of stocks.The above is not enough to build a relatively perfect system of classified stocks.The main body of this dissertation is divided into four parts.In the first part,after analyzing the meaning and nature of classified stock,according to the different nature of classified stock,it is divided into two categories:the content of attached identity rights and the content of attached property rights.This is also the original classification method in this dissertation.And classified stock is determined that the issue of classified stock has a significant positive effect on the overall development of companies,investors and financial markets..The second part deeply analyses the legislation situation of China's classified stock system.Since 1990s,China began to explore the branch preferred stock of the classified stock.Until the promulgation of the "Preferred Stock Pilot Management Measures" in 2014,China's preference stock system has achieved a major breakthrough,and legal provisions have begun to clearly stipulate it.However,only one type of preferred stock is not enough to meet the needs of enterprise development.There are still many problems in the development of China's classified stock system..The third part refers to the legislation of foreign classified stock system.Common law countries take the United States as their representative,and civil law countries take Japan as their representative.It briefly describes the relevant provisions on classified stock system in company law,although the legislative paths are different between common law countries and civil law countries.Comparing the advantages of foreign classified stock system,it is our country's classified stock system.The improvement of the degree provides reference.The fourth part is the suggestions to improve the system of classified stock in China.Firstly,it explores the legislative path of China's classified stock system.The author suggests that we adopt the model of legalism,which can be adapted to the current economic development of our country,and at the same time can be well connected with other legal systems.In addition,in view of the problems existing in China's classified stock system in Chapter ?,referring to Chapter ? foreign legislation on the classified stock system,this dissertation puts forward specific suggestions on the improvement of China's classified stock system.