Xiao Gang: Wonderful Chinese Style Registration System

Xiao Gang, chairman of the China Securities Regulatory Commission (CSRC), attended an interview with reporters at the Anhui people's delegation's March 5th meeting of the people's Congress of the China Securities Regulatory Commission, said: "registration system does not have a mature sample to learn. We have to make Chinese style registration reform according to China's national conditions." P

This is the first time that Xiaogang put forward the concept of "Chinese registration system" after the registration system was included in the eighteen major reports. Its connotation is very rich and wonderful, and deserves careful interpretation.

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< p > < strong > < a > href= > http://www.91se91.com/news/index_c.asp > IPO < /a > registration system must be examined /strong > /p >.

< p > Xiao Gang did not simply state his position, but made a detailed exposition of the connotation of registration system.

He said that the public issuance of shares involves the interests of the general public, whether the registration system or the approval system needs strict scrutiny by the government departments or the authorized departments of the government.

The audit of registration system is centered on information disclosure. If the enterprise wants to issue public stocks publicly, it must also disclose all information to the maximum extent true, comprehensive and accurate.

Xiao Gang's statement ended the debate about whether IPO should be tried or not, and made it clear that IPO's registration system is also subject to trial.

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< p > Xiao Gang also said that the publication of < a href= "http://www.91se91.com/news/index_c.asp" > registration system < /a > reform is a gradual process from the approval system to the registration system gradually. "It is not that today is the approval system, the whole effective method will be abolished tomorrow and become a registration system".

The registration system will be completed within the year. However, since the registration system must be implemented on the premise that the revised Securities Law is implemented, it is likely that the securities law will be revised and passed in 2015, and all aspects will be implemented step by step.

This shows that the regulatory authorities have realized that any reform must respect the authority of the law and not kick the law to carry out reform.

Registration system reform is a general direction, but we can not seize the day and ignore the provisions of the law. Reform needs to be gradual.

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< p > If a registered market is scored according to the market law, system, regulation and market main body, and the full score is 100 points, Xiaogang will score less than 50 points for the current A share market, that is to say, fail.

This practical injection of A shares into the market has injected a very timely sobering agent, so that many people understand that in a market which has no objective conditions, pushing the registration system is irresponsible and will not produce good results.

Some people are accustomed to using the correct route to cover up the errors of the left tilt, which is the root cause of the chaos in the A share market.

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< p > < strong > cleverly break away from copying the plight of /strong > < /p >

< p > < < a href= > http://www.91se91.com/news/index_c.asp > > Chinese registration system < /a > is ingenious and skillful in getting rid of the dilemma of food addiction, and no longer blindly copying the registration system of foreign countries, but continuing to strictly examine and verify according to the actual situation of China.

Experts and scholars have been arguing about whether the IPO registration system should be debated before. They have moved out of the registration system abroad to demonstrate the ideal IPO registration system.

Now that there is a "Chinese registration system", we can confidently announce that we do not need to copy these things.

No matter how the foreign registration system is stipulated, registration system is to be examined in China, and it is strictly examined. It needs strict scrutiny by government departments or authorized departments of the government.

The focus of audit is centered on information disclosure, but it can not be issued as long as truthful information is disclosed. There is still a basic threshold for enterprises to go public and must meet certain conditions.

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< p > the "Chinese registration system" is high in the high banner, which ensures the correct route and gets rid of the restrictions of rules and regulations.

No one has ever seen the "Chinese registration system". Therefore, in the process of promoting registration system, the kingdom of necessity has entered the realm of freedom.

If anyone doubts this is not like registration system, he can confidently tell him that this is the registration system with Chinese characteristics.

Therefore, as long as the "Securities Law" is amended, the "Chinese registration system" can be implemented at any time, and according to the maturity of various conditions, it is also in line with Chinese characteristics.

With the "Chinese registration system", we will have a thorough grasp of the initiative, and we should strictly examine the IPO strictly.

Who can say that the approval system is not a registration system with Chinese characteristics? The approval system is an effective way to check the new shares. Of course, the approval system can not eliminate the IPO fraud, but at least adds a lock to the primary market.

As long as we make some reforms to the approved system, we will have more ways of auditing and stop loopholes that have been discovered. We can say that this is the "Chinese registration system".

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< p > it can be seen that Xiao Gang's position has been carefully considered, and it is also a reflection of bringing ism.

The reason why IPO has been chaotic since its resumption is due to blind promotion of marketization.

Now the market has become a big basket and everything is packed into the market. It seems that once the market jacket is put on the market, mistakes will become the right ones, and others will not oppose them. Otherwise, they will oppose the general direction of marketization.

Under such circumstances, the "Chinese style" is obviously a good way to deal with it. It does not affect the banner of marketization, but also preserves and even strengthens some practices that have proved to be correct and effective after practice. This is the mystery of "Chinese style".

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