Speeding up the construction of the gem Company and directly returning Celebratetheir

(Reporter Su Guanghua) The chairman of Shenzhen Chen Dongzheng recently pointed out: "The rapid development of multi-level capital markets, product and business innovation, and the protection of the legal system of investors to improve the construction needs a process, this contradiction has increased the complexity of investor rights and interests protection work." In the process of constructing the multi-level capital market, speeding up the construction of the direct delisting system of the listed company is a great measure to promote the innovation of investor's rights and interests protection system under the new situation.　　"Chen Dong Levy was on May 7 by Shenzhen and the China Law Society Association of Securities Law, co-sponsored by the" Multi-level capital market construction and investor rights and Interests protection "seminar to make the above remarks. Chen Dongzheng stressed that the establishment and implementation of the current delisting system has played an important role in improving the overall quality of our listed companies, it has promoted the initial formation of the market mechanism of the fittest, but there are also some disadvantages in the concrete operation, especially the asset reorganization which is listed by the shell and the repeated, the subject speculation, the insider trading. It distorts the pricing mechanism and resource allocation function of the level two market, and disrupts the normal valuation standard and investment idea of the market.　　In view of this, the GEM system no longer implement a long period of exit risk warning system, no longer forced to retreat to the next level of market listing continue to trade, mainly contains three main points: first, the direct withdrawal of the city, the second is the rapid withdrawal of the city, the third is to eliminate backdoor hype. Chen Dongzheng pointed out that it is a systematic project to explore and establish the direct delisting system of gem, which needs corresponding measures to ensure the effective implementation of the scheme. The next step is to improve the litigation model, learn from Taiwan's successful experience, and explore the promotion of China's Investor Protection Fund subrogation litigation system. First, to clarify the major shareholders of listed companies to damage the interests of listed companies, the Investor Protection Fund can take action on its behalf, and exempt the "Company law" requirements of the shareholder qualification. The second is to establish a supporting judicial system which adapts to the subrogation lawsuit system, including reducing the qualification limit of the shareholder to bring up the representative lawsuit. Third, we should strengthen the supervision of subrogation litigation, and establish strict procedures to prevent abuse of complaints and other adverse events. Four is in the pioneering board first pilot, waiting for the pioneering board of the trial to achieve results, and then in the motherboard and SME board promotion.