The Sooner The Reform Of The Delisting System, The Better Safeguard The Interests Of The Other Side.

< p > > since the establishment of A-share "a href=" http://sjfzxm.com/news/index_cj.as > market < /a >, the delisting system has been a short board. In the ten years of 1991 ~2000, there was no delisting system for A-share, but at that time, there was not a large number of Shanghai and Shenzhen stocks, only 1000 of them were broken up by the end of 2000, and the total amount of financing was only about 100000000000.

Similarly, in the US Nasdaq market in 2000, there were 240 stock delisting within one year.

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< p > from the beginning of 2001, the first delisting criterion of the A-share market came into operation, and then the first Pt, the Narcissus being removed, was born. At that time, the market was very tight, but it was not long before it was discovered that since a share's stock was a scarce resource, once a company lost money, there were many enterprises that failed to meet the IPO standard for various reasons.

As a result, the emergence of the delisting system has made those ST shares become delicious food.

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< p > > a href= "http://sjfzxm.com//business/" > statistics < /a >, since the A-share market has a delisting system since 2001, only more than 40 companies have been delisting in more than 10 years, accounting for only 1.8% of the A-share shares, while the delisting rates of the NASDAQ and NYSE are 8% and 6% respectively, and the UK ATM's delisting rate is 12%.

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< p > but in the past more than 10 years, the number of newly listed shares in the A-share market is surging. As of now, the number of A-share stocks listed in the two cities has exceeded 2500, while the number of queuing companies exceeds 700.

By 2015, management will also promote the implementation of stock issuance registration system, no longer be audited. It can be seen that the number of shares will explode from 2015, and more than 3200 are only preliminary. After registration, it will probably reach 4000.

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< p > this is a very frightening figure. If the stock growth rate exceeds the speed of the capital market, the average price earnings ratio of the stock market will drop, and the corresponding stock price will go down, so that the vast majority of investors will suffer losses.

Therefore, it is necessary to establish a strict and effective delisting system before implementing the registration system.

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< p > in July this year, the management issued several opinions on reform and perfection and strict implementation of the delisting system of listed companies, Listing 7 kinds of active delisting and 27 types of compulsory delisting. From the market trend, investors should be supported, and most of the feedback received from soliciting opinions is to increase the type of compulsory delisting and protect the clauses of small and medium investors. Obviously, the market has also realized that the stock market can no longer enter. As long as the regulations maintain market fairness and safeguard the legitimate rights and interests of small and medium investors, the advance of the reform of the delisting system is earlier and better.

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