Research On The Related Issues Of Market Access System In GEM Market

In the 1970s-1980 s,the glory of Nasdaq in the United States demonstrated the tremendous power of capital to the world.A large amount of high-tech,new business models and other innovative forces have led the enterprises of this era.The capital market has provided tremendous support for these innovative and entrepreneurial powers,given them financing platforms to meet their financing needs.In September 2008,the outbreak of the world financial crisis had brought great difficulties to the development of China's SMEs.At this time,the launch of the Growth Enterprise Market(GEM)became the hope that all SMEs would survive and re-energize.On March 31,2009,the China Securities Regulatory Commission formally issued the Interim Measures for the Management of Initial Public Offering of Shares and Listing on the Growth Enterprise Market.The establishment and development of China's multi-level capital market has thus started.Since the launch of China's Growth Enterprise Market,it has provided convenient financing options for the development of countless small and medium-sized high-growth enterprises,hightech companies,and new-type companies,and provided an effective exit channel for venture capital.At the same time,in the process of the operation of China's GEM,the relevant systems of the GEM are constantly being updated and improved.China's exploration of the access system of the Growth Enterprise Market has never stopped.This paper has six chapters.The first one chapter and the last one are respectively introduction and conclusion.In the main part of the paper,it defines the GEM Market Access System,and starts from the status quo of the access system of the GEM market in the world.Then it analyzes the overall status of the foreign market access system for mature GEM such as NASDAQ and AIM.At the same time,the comparative study method is used to compare the foreign market access system of matured GEM and the access system of China's GEM.In addition,from the aspects of market access standards,access procedures,and access support systems,we analyze the problems existing in China's GEM market access system,and for access standards,access procedures and access systems for the provision of China's GEM market access system to provide recommendations.