【正文】
e the separation of management power and ownership, secondary and minority stock holders removed from panies, so it demands highly transparency about information disclosure and accepts the strict supervising of the public and the controlling organization. In order to realize efficiency and fair of the stock market, accounting regulation bees a kind of institutionselection and arrangement. Institutions include formal rules、informal restricts and their implement mechanism, these three determine the institution's efficiency and effect. This article states Chinese regulating institutions from the three parts, and supports improving policies from the parts of transforming regulation's train of thought and instructional idea, impleme