Abstract: With over 20 years development of China’s capital market, its external environment and internal structure has undergone great changes. Although China’s economy has achieved good recovery and growth after the financial crisis, China’s capital market, which is considered as a barometer of the China’s economy, has revealed a departure from the real economy for a long time. This kind of departure leads us to consider, what the problem is with the system and rules in China’s capital market. This paper attempts to conduct a comprehensive reexamination and analysis of the institutions design and rule system from eight aspects of China’s capital market, which includes the stock issuance, listing and trading, merger and reorganization, increasing or reducing share holdings and share repurchase, equity incentive and employee shareholdings, refinancing of the listed companies, information disclosure, and the mechanism of delisting from the market. Based on the above analysis, we put forward a series of reform proposals.
Keywords: Capital Market, System Transformation, Rule Adjustment
source:Finance & Trade Economics,No.1,2013