On Amalgamation In China's Securities Market

With the rapid development of the fifth global annexation, the nnexationstrategic a has expanded to the whole world . It is an urgent task for our enterprises to take part in it, as the relationship with global economy is closer and the step of entering WTO drawing nearer. It's very realistic to study the way of stock annexation since it has uncomparable advantage.In this article,the author conducts a specific reserch about the stock-changing annexation in our stock market ,thus to make a better understanging about the significance of the enterprises annexation,the situation and the obstacle of the annexation in our country,the development of the stock-changing annexation.The article is divided into three parts as follows:Part I : Clarify the idea and connotation of stock-changing annexation. In an annexation, there are many ways such as cash, stock, debenture to provide capital. The way of using stock is stock-changing annexation. The proportion of the stock should be based on the internal value of an enterprise. It is now a main way to conduct an annexation.Part II: Summerize the characteristic and situation of the stock-changing annexation in our country. It is still under experiment. Since our stock market isn't a normal one and not all shares can circulate, there are many problems to solve in stock-changing annexation.Part III: The setup of secondary stock market under thorough circulation' system will be a benefit to the development of stock-changing annexation. The reduction of state-owned shares-7 t'"'iwl三百 leadto a more norma邑 stock marketand ellmllate obstac巨es Insuch annexationJ order to improve the stock－right struCture,abetter legal management stucture,a more mature law system,thecreation ofa newfinance Is more realistic and important． Slncethe stock－changing annexation Is a totally new method邑nour country；he theoretical base and practlca！experience Is farfrom perfects．The viewpoint In this article only represents theauthor's personal idea．The acknowlegement and use of thestock－changing annexation waltto be proved and use of＊theStOCK－CRSRqlRq SRR6X8tIOR WSIt to D6 DFOV6 SDd IffiDFOV6d bVpratlce...