Overseas Backdoor Listing

The economic globalization not only brings business enterprises new development opportunities and market space, but also brings them challenges and fierce competition both in domestic and worldwide market. It is the trend of globalization that business enterprises should be of internationalization and this kind of trend is unconvertible and inevitable. Through the development of more than 20 years, Chinese private enterprises have made outstanding contribution to the development of Chinese economy. Private economy has already grown up to be more important part of the national economy. Along with the reform and opening being deepened in China and China's entry to WTO, Chinese private enterprises possessing comparative advantages at some links of the value chain have been increasingly involved in the progress of global economic integration, and have been developing international economic activities ,such as investment, production, sale, service. Under the background of global economic integration, Chinese private enterprises can develop themselves only when they implement internationalization.This paper discusses the internationalization paths of Chinese private enterprises in order to provide a reference to Chinese private enterprises for implementing internationalization.First ,this paper elaborates the reason of internationalization road of Chinese private enterprises, pointing out that the internationalization of Chinese private enterprises is inevitable for their development. Then it discusses several internationalization paths and emphasizes to introduce overseas listing .And the paper introduces the locations and the manners of overseas listing, analyzing the back-door listing in OTCBB .At last, the paper displays the problems in the internationalization process of Chinese private enterprises ,and puts forward the countermeasures. The conclusions and countermeasures of the paper: First, developing internationalization is not the target for a business enterprise but the measure for the target. Second, the government should support and lead the business enterprises to develop internationalization. Third, the business enterprises should pay more attention to the core competency, train or import talented persons who know how to manage internationalized business enterprise. The business enterprises should establish mechanism of normative governance and improve operation efficiency initiatively. Fourth, the business enterprises should know the overseas listing well, and choose the locations and the manners of overseas listing according to the condition of the business enterprises themselves and their development demand. Fifth, the business enterprises should choose agency for overseas listing and shelf company carefully.