摘要
科创板试点注册制改革,突出科创定位,通过一系列制度创新以期更有效地促进科技创新,但其功能发挥因现实局限性受到制约。基于逻辑梳理、风险分析与国际经验借鉴,本文提出科创板发展中相关风险防范与顶层设计优化的建议:一是核心目的上,要以增强市场定价机制的功能发挥为核心,促进科技创新;二是监管思路上,要以提升信息披露质量为抓手,构建良好的信息披露生态;三是从长远看,要以优化交易制度和投资者结构为重点,促进二级市场运行行稳致远。
Sci-Tech Innovation Board is attempting to boost science and technology through a series of institutional innovations. However, the function of registration system of Sci-Tech Innovation Board is limited by the reality. By adopting logical sorting, risk analysis and learning of international experience, this paper puts forward guiding suggestions on market top-level design and relevant risk prevention. Firstly, the fundamental principle is to enhance the function of market pricing mechanism and encourage sci-tech innovation.Secondly, regulatory authority should raise information disclosure standard so as to build a good information disclosure environment. Finally, only by optimizing the trading system and investor structure can we keep the secondary market stable and healthy in long run.
出处
《证券市场导报》
CSSCI
北大核心
2020年第1期2-10,20,共10页
Securities Market Herald
基金
中国证券业协会2019年度优秀课题《设立科创板并试点注册制相关风险点分析与防范研究》(2019SACKT010)改编
关键词
科创板
注册制
信息披露
顶层设计
风险分析
sci-tech innovation board
registration system
informationdisclosure
top-level design
risk analysis
