美日韩科创板建设的经验与借鉴

The Experience and Reference of Science and Technology Innovation Board Construction Among America,Japan and South Korea

在“L型经济”新常态下,中国提出设立科创板并试点注册制,引导金融服务实体经济,助推中小科创企业发展。通过对美国NASDAQ、日本JASDAQ和韩国JOSDAQ三国科创板发展过程比较和分析,总结其在市场分层、交易制度和监管体系等方面的措施与经验,借以提出对中国科创板未来发展几点启发。

In the "l-shaped economy" new normal, general secretary xi proposed to set up a science and innovation board and pilot registration system to guide financial services to the real economy and boost the development of small and medium-sized science and innovation enterprises in China. However, in the past few years, China’s financial liberalization, financial reform and innovation are not satisfactory, and China’s capital market still has problems such as low operating efficiency, imperfect system reform and imperfect legal system. Therefore, by comparing and analyzing the development process of technology innovation board among NASDAQ of the United States, JASDAQ of Japan and JOSDAQ of the republic of Korea, this paper summarizes the experience in market stratification, trading system and regulatory system, etc. China can learn from the experience of the United States, Japan and the republic of Korea, and provide some inspiration for the future development of China’s technology innovation board.