Study Of Chinese Listed Companies Associated With Trading Laws

With the development of corporation and corporate structure, cognate trade happened, cognate trade becomes wide-ranging and is allowed by law because it can accelerate corporate management, reduce trade costs and promote corporate competitions. But, as it exists conflict of interests and must lead to unfair in trade,cognate trade impairs other interest subject and is restricted strictly by law. Because of traditional system, there are cognate relation in complicated state-owned enterprises and cognate trade widely in listed company. The article, adopting the approach of comparative law,on the basis of investigating and analyzing the present situation and effect of listed companies related transactions in our country, reviews and analyzes how to standardize unfair cognate trade in order to protect the interest of middle and small shareholder in listed company, discusses the general theory about legal provisions of related transactions, and brings up policies ideas about amending company law and negotiable securities law of our country.The article consists of five parts besides a preface. Part I reviews the definitions and features of cognate trade in law. Part II analyzes the situation of cognate trade in Chinese listed company positively. Part III discusses the general theory about legal provisions of related transactions and the present situation of legislation in our country,and then analyzes the present situation of legislation about the related transactions, points out the defects and the shortcomings. Part IV analyzes inquires into the systems to standardize cognate trade between the controlling shareholders and the listed company, including the approving system of general meeting of stockholders, the excluding system of stockholders' voting power, the decision system of general meeting of classifical stockholders, the restricting system of stockholders' voting power, the system of independent director, etc.Part V analyzes comparatively the standardization of the trade of the directors' conflict of interests in law, and puts forward some proposals and suggestions of amending negotiable securities law based on the actual circumstance of PRC.