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修订后的《上市公司重大资产重组管理办法》自其修订以来已实行一年有余,市场中却仍然存在大量进行重大资产重组或借壳上市并规避证监会监管的乱象,中小股东的合法权益无法得到有效保障,因此在我国即将实行证券发行注册制的背景下,应当针对重大资产重组和借壳上市设置多元化判定标准,实施分类监管措施并完善信息披露制度从而在充分发挥市场作用的同时实现对上市公司资产重组的有效监管,切实维护中小股东的合法权益,维护证券市场的稳定具有十分重要的理论和实践意义。
The revised Measures for the Management of Significant Assets Reorganizations of Listed Companies have been implemented for more than one year since they were revised. There are still a lot of chaos in the market for major asset restructuring or backdoor listing and to evade the supervision of the CSRC. The lawful rights and interests of minority shareholders can not Therefore, under the background of the imminent implementation of the registration system for securities issuance in our country, we should establish diversified judgment standards for major assets reorganization and backdoor listing, carry out classified regulatory measures and improve the information disclosure system so that we can give full play to the role of the market at the same time The effective supervision of assets reorganization of listed companies, effective protection of the legitimate rights and interests of small and medium shareholders, to maintain the stability of the securities market has very important theoretical and practical significance.