我国新股发行上市制度规范的缺陷及其改善

System Defects and Improvements for Offering of New Shares

股市波动太大对实体经济发展不利。我国新股发行上市制度的种种缺陷,是造成股市过度投机、过度涨跌的重要制度原因。因此,需要在改善资本市场管理体制和管理思路的基础上,着力改善我国新股发行上市的制度规范,以促使我国股市平稳、健康地发展。而改善新股发行上市制度的核心因素是要在新股运行的各个重要环节上确立和完善利益制衡机制。

Stock market fluctuations work against the real economic development. The defects in the system for offering of new shares are important institutional reasons for excessive speculation and fluctuations in China＇s stock market. Therefore, in order to promote stable and healthy development for the stock market, it is essential to improve the management system and management ideas of the capital market and to improve the regulations of new shares offering. The core of the system improvement is to establish and improve the interest balance in every link of new shares offering.