翻译成英文。。。

证券发行（Securities issuance）保荐人（The recommender）保荐制度（Sponsor system）完善（perfect)
内容
In order to improve from the source of listed companies, promote the quality of the healthy development of China's capital market in 2004, the China securities regulatory commission launched securities sponsor system.
Securities sponsor system is China's capital market is the most significant system design. Can say, the CSRC, investors from the beginning to have great expectations, sponsorship system can eliminate institutional sponsor issued the malpractices system. Therefore, the sponsor system has been implemented six years, attention.
However, the development of China's securities market is very short time, sponsor system as a new system, there still exist some problems. In order to fully realize its value, will be perfected in practice. This paper analyzes the problems and discussed.

In order to improve the source quality of listed companies, to promote the healthy development of China's capital market, China Securities Regulatory Commission in 2004 launched a securities recommendation system.

Securities recommendation system is China's capital market with the most far-reaching one of system design. Can be said that the Commission, investors from the start of the high hopes for the sponsor system, I hope the sponsor system to eliminate the previous system of issuing and listing all the defects. Therefore, the sponsor system is implemented in six years has been great concern.

However, the development of China's securities market is still relatively short time, the sponsor system as a new system, there are still some problems. To fully realize its value, they must be continually improved in practice. This paper will study and explore these issues.