我国上市公司退市制度研究——以*ST博元为例

The Delisting System Study of Listed Companies in China——Taking ST Boyuan as an Example

2016年3月21日,*ST博元退市,成为了自2014年退市新规发布后的首家因为重大信息披露违法而被强制退市的上市公司,引起了普遍的关注。对*ST博元进行强制退市体现了在证监会主席刘士余上任后,证监系统对上市公司的退市在逐步加强监管,也标志着我国强制退市制度正在逐步发挥作用。对于整个证券市场、上市公司以及投资者来说,退市制度的不断完善,具有重大意义。新的经济发展形态下,完善的退市制度为注册制改革做好了铺垫,同时也对我国多层次资本市场提出了更高的要求。

On March 21, 2016 , ＊ ST Boyuan delisting became the retreat city new rules since 2014, after the release of the first because of the significant information disclosure illegal listed companies were forced to retreat city, caused widespread concern. Delisting on the ＊ ST Boyuan reflected on the securities and futures commission chairman Liu Shi- yu after taking office, the regulatory system of the delisting of listed companies gradually strengthen supervision, also marks the compulsory delisting system in our country is gradually play a role. For the securities market, listed companies and investors, the continuous improvement of the delisting system, is of great significance. Under the new pattern of eco-nomic development, improving the delisting system has laid a good groundwork for registration system reform, and also puts forward higher requirements on multilevel capital market in China.