我国股票发行从核准制到注册制发展的初步研究——兼论我国证券法关于股票发行制度的修改与完善

Approval System to Registration System of Stock Issuance in China's Capital Market——To Perfect the Stock Issue System in China

推进股票发行注册制改革成为我国资本市场改革的必然。注册制作为成熟市场经济国家的股票发行制度,在我国实施具有必要性,也要进行法律风险评估。要清醒看到核准制度的缺陷,充分利用注册制度的优势,将其融入金融市场发展,力推金融创新。在证券法的修订中,应注重注册制度自身的构建,也应考虑于证券法的衔接,并通盘设计配套制度,整体推进注册制度的生根落地。

Promoting the reform of stock issue registration system is the necessity of China＇s capital market reform. The application of registration system in China is necessary, but it still needs legal risk assessment. We must see the shortcomings of approval system clearly, take full advantage of registration system and integrate it into the development of financial market to push financial innovation. In the amendment of China Securities Act, we should pay attention to the construction of registration system itself, consider the connection with China Securities Act, design the supporting system, and advance the rooting of registration system overall.