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Legal Research On Cross-border Securities Investment

Posted on:2008-02-20Degree:MasterType:Thesis
Country:ChinaCandidate:Q X DuanFull Text:PDF
GTID:2166360212981232Subject:International Law
Abstract/Summary:PDF Full Text Request
The economic globalization brings an important consequence, that is the capital transnational flowing. Since the 1990s, the international securities market has developed dramatically. With the development of scientific technology and financial globalization, the scale of international securities market cxpands rapidly. At present, the international securities market takes up 70% of the international capital market. The proportions of the national securities investment in America, Japan and some other capitalism countries have exceeded those of international direct investment. Securities investment became one of the main forms of international investment.With the establishment of QFII system and the gradual loosen of QDII system, in the past two years, securities investment in China made tremendous increase both in the inward and outward flowing. That brings great challenges to the regulation of Chinese securities market and the ways of foreign exchange supervision and control, and raises higher demands on the supervision and control of Chinese securities market.This paper starts at enhancing the efficiency, defending stability, reducing the risk, ensuring safety of securities market, considering the present condition of securities transnational holding in China, on the basis of analysis and research on the QFII and QDII system, borrowing the successful experience in newly rising market and the mature system of supervision and control on the transnational securities investment in developed countries, gives the rationalized suggestions to the improvement of QFII and QDII system. As the QFII and QDII system are in the primary implement stage, this paper makes an important study on the legal supervision and control measures in the fields of subject qualification, investment register, investment scale, investment scope, foreign exchange supervision and control regulation, information revealing in order to ensure the safety and stability of Chinese financial system in the implement process. Meanwhile, since double-track securities holding system of direct holding and indirect holding patterns exists in our country and its confliction with currently applied indirect securities holding pattern in developed countries as well as the accompanying problems, this paper, researching on the investors securities rights' confliction under the twosecurities holding patterns, points out the future revolutionary road of securities market. That road is to actively join in and propel the exploration of resolving methods in Uniform Conflict Law by international society for promoting the trade development of indirect securities holding, to amend and improve the trust legal system centered with the Trust Law of PRC, to abandon the securities direct holding pattern at last and realize the single indirect securities holding legal system.
Keywords/Search Tags:Qualified Foreign Institutional Investors, Qualified Domestic Institutional Investors, Cross-border Securities Investment, Type of Security-holding
PDF Full Text Request
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