The Research on China IPO Mechanism Existence Question and Countermeasure

Abstract

As a major institutional reform, China IPO market reform in the obtained enormous result while also put in a few problems. First, contradictions between the stock market pricing and the issue of audit. Second, the sponsor closely with the interests of the issuer to issue overvalued. Third, the IPO allocation system is not reasonable inquiry agencies compete to improve the offer of new shares. Reform and perfect the system of IPO, through the system arrangement of the system to achieve. Through accelerate commercialize reform pace, gradually the practice registration system to create the conditions for the future. We should strengthen the issue of market supervision, increase irregularities punishment. The government should further improve the current IPO way of inquiry.

Key words: The IPO system; Market-oriented reforms; Problem; Countermeasures