Stock Issue Registration System Reform: International Experience and China’s Choice

Authors:  Wan Limei

Abstract: The stock issue registration system is part of China's market mechanism and its development will progress in tandem with an acceleration of the country's securities marketization as well as decisions made by the Third Plenary Session of the 18thCentral Committee. Mature markets such as in the United States, Japan, Taiwan, have widely used the registration system as it plays an important role in the securities market. China can emulate from the operating experience of mature markets. This will benefit China's reform of the registration system in terms of its steady development, stability, and unfettered operations. It will also raise the resource allocation efficiency of the capital market in the long term, and facilitate economic prosperity.

Key words:  stock issue registration; international experience; soil of reality; China’s practice

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