Preliminary Study On The Legal Issues Of Regulation On Oversea Indirect Listing Of Domestic Enterprises

Recent years, Chinese enterprises'oversea indirect listing develops very quickly. Because this kind of listing evades the regulation of domestic law, it challenges our financial regulation system and attracts high attention from all circles. This dissertation focuses on the legal issues arising from regulation on indirect cross-border listing. Research methods such as taxonomy, comparison and induction have been used to analyze the system of regulation on indirect cross-border listing from several respects. The emphasis is how to perfect our country's regulation system. The thesis contains five chapters in addition to Introduction and Conclusion.Chapter 1 is a brief introduction of oversea indirect listing. It first introduces the concept, causes and different layouts. Then analyzing its impact on our country, it points out that our country should strengthen its regulation on oversea indirect listing. The end of Chapter one discusses the supervision authorities, which guides the analysis following.Chapter 2 deals with the security supervision on oversea indirect listing. First, it analyzes the supervision objects and reviews the development history and present situation of security supervision with emphasis on no-action letter. Then based on this analysis, the author proposes some suggestion on how to perfect the system of security supervision on oversea indirect listing and how to seek cooperation from oversea supervision authorities.Chapter 3 deals with the foreign exchange management of oversea indirect listing. The content of supervision is discussed first, which shows that supervision on relative capital inflow and outflow in the process of oversea indirect listing is enough. Then the author studies the supervision from these two respects.Chapter 4 deals with the legal regulation on round-trip investments in the progress of oversea indirect listing. First it analyzes the definition, layouts and impact of round-trip investments. Then the author looks back on development history of domestic supervision on it and gives comments on the way we used to regulate it, which the suggestion proposed at last is based on.Chapter 5 discusses the tax supervision on oversea indirect listing from three respects: One is tax for the inveracious FDI; another is issues on stock, dividend and tax in and after oversea indirect listing; the other is tax for employee stock option.