Company Law and Securities Law newly implemented in China legalize private placement and transfers of securities in the country, which is to embrace great development in this area.

• 摘要2005年修订后的《公司法》、《证券法》为我国证券非公开发行与转让打开了制度空间，我国将面临证券非公开发行与转让市场大扩容和大发展的形势。