Write a theme article. The registration system refers to the cancellation of issuance review and the change to information disclosure system, which has been implemented in China stock market. The emergence of registration system has aroused widespread concern in the market. Where are the investors?
The registration system is regarded by the CSRC as an important part of the capital market reform and an inevitable choice to promote the capital market reform. After the implementation of the registration system, for enterprises, it means reducing the time and cost of issuing audit, and it also means that investors have a more comprehensive and in-depth understanding of enterprises. This is good news for those powerful companies that are difficult to go public because of the complicated review process. Enterprises can get financing faster, which provides more space for the development of enterprises.
For investors, the registration system also has certain risks. On the one hand, incomplete or untrue information disclosure may mislead investors to make wrong decisions and cause losses. On the other hand, the quality problems of listed companies may be more prominent because the registration system cancels the issuance audit. If investors don't have enough professional knowledge and rationality, they may be confused by the image of listed companies and invest blindly.
In order to avoid the risks brought by the registration system, investors need to improve their risk awareness and investment ability, pay more attention to the fundamentals and financial situation of enterprises, carefully analyze the value of enterprises, and avoid blindly following the trend and speculation. At the same time, the regulatory authorities also need to strengthen the supervision of information disclosure to ensure that information disclosure is true, comprehensive and timely.
The registration system is good for enterprises and can provide more financing space for enterprises; For investors, the registration system has advantages and disadvantages, which requires investors to improve their risk awareness and investment ability. At the same time, the regulatory authorities also need to strengthen supervision to ensure the authenticity and effectiveness of information disclosure. Registration system is the inevitable choice of capital market reform. I believe that with the continuous improvement, the advantages of the registration system will become more prominent, bringing more benefits to enterprises and investors.