浅谈我国股票发行核准制及其影响

我国股票发行核准制自2001年3月起正式实施，股票发行核准制开创了我国股票发行史上新的时代。股票发行核准制取消了政府对上市指标和额度的管理，证券监管机构职能被重新定位，股票发行的行政色彩弱化；证券公司被赋予更大的权力和责任，同时承担更大的风险，券商等中介机构的专业化程度和诚信度大大提高，我国证券市场的市场化改革进程加速。

Preliminary Discussion on the Publication Approval System of Stock lssuance in China and ifs Its Lnfuence

The qualification approval system of stock issuance in China commenced in March,2001.The new approval system started a new era in stock issuance history in China.Under the qualification approval system,the government's administrative control on the listing-quota has been eliminated,the function of the government in stock issuance has been redressed.The intermediaries,as well as the securities companies,are endowed with greater power and more reliability,and facing more legal and market risk as well,which force them to improve their specialization degree and credibility degree.In a word,China securities market is undoubtedly on the way to an advanced,high-level stage which is healthier,more efficient,more rational,and more transparent.