< p > 8 pm, at the media meeting held by the SFC, Gui Minjie, chairman of the CPPCC National Committee and chairman of the Shanghai Stock Exchange, detailed the details of the registration system reform of the stock issue, and said that the registration system should be launched on the basis of amending the securities law.

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< p > Gui Minjie said that the real meaning of his own registration system is to change the original administrative examination and approval system into a mechanism based on information disclosure.

This requires an institution to register. It emphasizes information disclosure and the contents of information disclosure to investors, the main body of the market to care, comment and analyze.

The role of registration system shows the strength of the market.

Therefore, this is a direction and an important manifestation of changing the functions of the government and giving play to the decisive role of the market.

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< p > Gui Minjie thinks that registration system reform is second only to the change of a href= "//m.pmae.cn/news/index_c.asp" > the split share structure < /a > to a certain extent. Although this is marketization, it is a very big change for the Chinese market, there are many worries and many considerations.

Therefore, the registration system should be launched after thorough careful assessment, research and demonstration.

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The reform of stock issuing registration system was officially put forward in the third Plenary Session of the 18th CPC Central Committee. Premier Li Keqiang once again listed it as one of the three major tasks of this year's capital market reform in the 2014 government work report.

First, the construction of multi-level market, the two is to promote registration system reform, the three is to regulate the bond market, and the most important thing is registration system reform.

Gui Minjie said that this year the entire securities system will focus on registration system reform, mainly to make preparations.

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< p > > a href= "//m.pmae.cn/news/index_c.asp" > GUI min Jie < /a > also points out that < a href= "//m.pmae.cn/news/index_c.asp" > registration system < /a > is not a simple matter for Chinese market.

China has been doing it for more than 20 years. From the examination and approval system to the approval system, the role of the SFC in IPO gatekeeper is very familiar.

Now changing the existing mode will bring about complicated situations, such as how to register, register, register and so on.

Although the direction and path of registration system have begun to be clear, how can we achieve it next? This is a very complicated problem, because many ideas must be changed, including the concept of regulatory authorities, including the concept of investors.

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< p > Gui Minjie said that the Shanghai Stock Exchange has been actively participating in the registration system reform.

A group was set up for registration reform, including research plan, research system, research rules and so on.

As an arrangement for the whole regulatory system, exchanges should actively participate in the reform of registration system, whether they are placed on exchanges or not.

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< p > in addition, Gui Minjie said the registration system also needs the support of the securities law. At present, the securities law stipulates the auditing system and the approval system. The SFC is responsible for approving the registration and the trial committee will have the whole system.

According to him, registration system may be launched on the basis of amending the securities law, so this year is mainly for research and argumentation.

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