Chairman of the Korean exchange: China's gem needs to perfect the delisting system

Gem for a country's small and medium-sized enterprises support is very strong. After the outbreak of the Asian financial crisis, the Korean government in order to foster the development of small and medium-sized enterprises, to create a good financing environment in 1996 set up the Gem (KOSDAQ) market.　　In the world, Korea Gem is a relatively successful model. In the past 5 years, small and medium-sized enterprises in the gem raised to the scale of about 27 trillion won. The exchange wants to attract good companies to go public and issue shares, and these excellent companies make the trading market more normative and transparent. However, some enterprises can not be excluded after the listing of internal mismanagement, poor operating conditions.　　If such an enterprise in the trading market, the number of increase will affect the credibility of the market, which will bring a great negative impact. As we go to the market to buy vegetables, we all want to buy a fresh vegetable, but if we buy a bad dish, then we may never go to the markets again.　　Investors, too, may not be able to invest in the market any more if they feel the quality of the business is poor. This time will put these bad enterprises out, that is, to improve the "delisting system."　　Korea gem in the initial system is not perfect when in the retreat of the city has been a mistake, this mistake is worth China's pioneering board for reference. China's gem has just been set up, in the next two or three years should not appear in the market.　　But after a long time of development, this will become a matter of great urgency. China's gem is mainly attracted by High-tech enterprises, many companies initially listed in good performance is the advantage of High-tech or exclusive patent. But in the future, once their technical competitiveness is lost, it is directly related to the survival of the enterprise problem. In this way, the exchange will soon return these enterprises to the market, so the improvement of the delisting system is China's gem in the future to pay attention to the issue.