Part two argues that there lacks a disclosure standard for the IPO of unlisted securities and Secondary Public Offerings by unlisted public companies, then gives comments on the continuous disclosure regime of the Stock Transfer Agent System, which is the principle OTC market in China. 第二部分首先指出了我国公司股票场外IPO和非上市公众公司新股发行信息披露标准的缺失,然后集中评述了我国代办股份转让系统这一主要场外交易市场的持续披露规则。
At present, China property and intellectual property exchange market, stock transfer agent system and the equity exchange market are the mainly market for transferring non-listed companies 'equity. 目前,承载非上市公司股权转让的市场主要有产权交易市场、代办股份转让系统及股权交易市场。