合理的退市制度安排是资本市场优化资源配置的基础,也是保护投资者利益的前提。目前上市公司的退市门槛太高,存在退市标准易于规避,退市时间长、渠道单一等问题。创业板市场应从设立之初即实行严格的退市制度,才能更好发挥资源优化配置功能、维护市场秩序、保护广大中小投资者的利益。 Reasonable arrangements for delisting system is the capital market to optimize the allocation of resources, but also the prerequisite for the protection of the interests of investors. At present, the delisting threshold of listed companies is too high, so there are problems such as the delisting standard is easy to avoid, the delisting time is long, and the channels are single. GEM should be established from the beginning of the strict implementation of the delisting system in order to better play to optimize the allocation of resources to maintain market order and protect the interests of the majority of small and medium investors.