We appreciate the guidance and help from our supervior Barbara Cornelius, the professor of USBE, Umea University (Sweden). She encourged us to challange ourself all the time. So at this point, we could say that our thesis is an attempt to apply grandstanding concept on underwriting business in China. During the whole thesis, we collect the newest market data from 2006 to 2010. So the results can reflect the newest condition and environment in China IPO market.