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退市制度是证券市场的基础制度之一,它不仅能发挥优胜劣汰的功能达到整合市场资源、净化市场环境的目的,而且还有利于保障基本投资者的合法权益,营造有亏有盈的健康投资氛围。换言之,退市制度的不完善或者实行效果不强,将不利于证券市场的健康发展,这样一来,盲目投资、投资永远无利可图将成为我国证券市场永久的怪相,经济的发展必然严重受阻。因此,完善退市制度成为证券市场改革必要的内容之一,实行有效的退市制度,形成有进有退的自然市场竞争状态,活跃市场气氛推动市场规范化建设进程。
Delisting system is one of the basic systems of the securities market. It not only can play the role of survival of the fittest to achieve the purpose of market integration and market environment purification, but also help protect the legitimate rights and interests of the basic investors and create a healthy investment with deficit and profit Atmosphere. In other words, imperfections in the delisting system or the ineffectiveness of their implementation will not be conducive to the sound development of the securities market. As a result, blind investment and investment will never be profitable and will become a permanent strange phase in China’s securities market. Economic development will inevitably Seriously blocked. Therefore, perfecting the delisting system has become one of the necessary elements in the securities market reform. It has implemented an effective delisting system, formed a state of natural market competition that has entered and retreated, and an active market atmosphere has pushed the process of market standardization.