退市制度是证券市场制度的重要组成部分,我国现在正推进并完善这一制度。退市是上市公司在资本市场的重大行为,但是它不仅涉及上市公司这一方面,还必然影响投资者的利益。因此,在实践中退市制度能否落实,需要以保护投资者合法利益为前提,否则退市行为得不到投资者的支持。本文分析了退市过程中信息披露充分性、投资者救济途径和投资者司法诉讼成本等三个重要问题,并针对性提出了政策建议。 The delisting system is an important part of the securities market system. Our country is now promoting and perfecting this system. Delisting is a major behavior of a listed company in the capital market, but it not only affects listed companies, but also inevitably affects the interests of investors. Therefore, in practice, the delisting system can be implemented, the need to protect the legitimate interests of investors as a precondition, or delisting behavior without the support of investors. This article analyzes three important issues such as the adequacy of information disclosure during the process of delisting, the ways of investor relief and the costs of investors’ judicial proceedings, and puts forward some policy recommendations.