The Differences of Registration Systems in Chinese and the U.S. and Implications

Abstract

As a matter of fact, registration systems are crucial for stock markets and financing of companies, which is different in different countries and regimes. In November 2013, the purpose of China securities regulatory commission is to strength the status of market as the role of resource allocation. With the continuous development the issuance, trading system of listed companies’ reforms registration system, which promotes the efficiency of market operation and information disclosure level. With this in mind, this paper tracks the history of registration system in the United States, analyses the risk in the progress of market registration. Due to significant different political and cultural system, this paper also discusses the differences between the registration systems of China and the United States, the reasons for the differences and the enlightenment to the development of the registration system in China. Overall, these results shed light on guiding further exploration of registration system development.