评我国证券发行的审核制度——基于法律视角的审视

On the Examination and Verification System of China′s Issuing Securities ——A Legal Perspective

我国《证券法》对证券的发行实行核准制或审批制,这种做法人为地割裂了证券市场的统一性,不利于证券市场的健康发展,不利于与国际惯例接轨。而股票发行的核准制也存在一些弊端,应进一步完善。

In issuing securities in line with China′s Securities Law, such two systems are exercised as that of check and ratification and that of examination and approval (with the former used in issuing stock and the latter in issuing bonds ). This type of practice artificially spoils the unity of securities market and therefore,is harmful to the market′s healthy development and its process of being brought in line with the international practices. Meanwhile, in the system of check and ratification there exist some malpractices, and the system must be improved.