The establishment of China's securities companies is subject to the approval system, and the establishment of securities companies is approved by the China Securities Regulatory Commission according t

The establishment of China's securities companies is subject to the approval system, and the establishment of securities companies is approved by the China Securities Regulatory Commission according to law. What's wrong with this sentence? The establishment of China securities companies is subject to the examination and approval system.

There are three main stock issuance systems, namely, examination and approval system, approval system and registration system, and each issuance supervision system corresponds to a certain market development trend. In the process of gradual maturity of the market, the stock issuance system should also be gradually changed to meet the needs of market development. Among them, the approval system is a fully planned issuance model, and the approval system is the intermediate form of the transition from the approval system to the registration system. At present, the mature stock market generally adopts the registration system.