according to the latest resolution of the Standing Committee of the people’s Republic of China, from March next year, the stock registration system will be formally implemented, China’s securities system has undergone substantial changes, which will impact on China’s stock trading. China’s capital market may usher in a huge change.
The implementation period of
the decision for two years, decided to implement since March 1, 2016. China’s current stock issue is the implementation of the approval system is established by the securities law. Implementation of the stock issue registration system reform, the need to address the problem of law.
The state council intends to IPO on the Shanghai stock exchange and Shenzhen Stock Exchange listed shares authorized
, adjusted for the relevant provisions of the "People’s Republic of China Securities Law" on public stock issue approval system, the implementation of the registration system, the implementation of the provisions of the State Council party, the national people’s Congress for the record.
decided that the State Council to strengthen the organization and leadership of the stock issue registration system reform, and decided to the implementation of the NPC Standing Committee made the interim report. The securities regulatory authority under the State Council shall, in conjunction with the relevant departments, strengthen supervision after the matter, guard against and defuse risks, and effectively protect the legitimate rights and interests of investors.
the Commission issued a notice on the official website said that the registration system reform is not a simple review devolution of power, but a fundamental change of supervision mode.
After the implementation of the registration system of
, changing concepts and methods will be on the stock issuance audit, audit focuses on the information disclosure of the complete consistency and comprehensibility, no longer make a judgment on the prospects for business development and investment value, authenticity, accuracy and completeness of the information disclosed by the issuer and are responsible for intermediary. In this sense, the information disclosure of the audit checks will be more strict, the issue of fraud and other illegal acts to investigate and combat more forceful measures to protect the legitimate rights and interests of investors will be more effective. The implementation of the stock issuance registration system reform in China is lack of experience, the need to explore the accumulation of experience through practice, can be the next step of the securities act to modify and improve to create more favorable conditions.