转板是退市制度的补充（The board is added to the delisting system）.doc

转板是退市制度的补充（The board is added to the delisting system） Shanghai international financial center and a major step forward towards the front. The Information Office of the State Council on April 29, 2009 at 3 pm at the Shanghai International Conference Center held a press conference, please state development and Reform Commission deputy director Liu Tienan, vice mayor of Shanghai Municipal Peoples Government of Yang Xiong and Tu Guangshao introduced the State Council on promoting Shanghai to speed up the development of modern service industry and advanced manufacturing industry, the construction of international financial center and international shipping center comments. The concrete scheme of Shanghai financial center surfaced. One of the most important one is to establish the transfer mechanism of listed companies. The board is intended to open up the capital market between the different levels of the channel. According to the functional orientation of the national stock market, small and medium-sized enterprises on the motherboard market, the GEM market, establish listed companies in different market transfer way. Where the first listed on the SME board, the GEM market, after reaching the main board listing standards of the company, must go to the motherboard market; where the first listed on the main board, after no longer meet the standards of the company listed on the main board, must go to the market. Chinas capital market, the two major drawbacks, one is the IPO mechanism and unfair premium is too high, the two is the lack of market mechanism, intestinal obstruction phenomenon inside the market. Theoretically speaking, the cushion China third market as the delisting of the company and delisting company. It was founded in 1994, the third board market, has acted as a trash role, the market from the Shanghai and Shenzhen stock market to undertake the historical legal person shares and corporate shares delisting from the main market, the lack of basic pricing mech