Research On Legal Issues Of Chinese Internet Companies Overseas Listing

China’s accession to the WTO marks the formal integration into theworld economy, since then, Internet Companies in China has been rapid butsubstantial developed. As an important part of the private enterprises, Chinese Internet Companies have long been plagued by the problem offinancing as other private enterprises. Equity financing and debtfinancing are two main ways of corporate financing. Because there is nointerest, no repayment and no guarantees, equity financing is preferredby Chinese Internet companies. Equity financing of course, has its manybenefits, but requirements for listing on financial, corporate governanceare not easy to get, therefore, the stock market is not so easy to get. Chinese Internet Companies tend to choose overseas listing according totheir own characteristics and needs as the main form of public financing.After selecting the listing method, how to select listing mode accordingto their own characteristics, and how to solve the problems that may occurafter the listing are difficult issues for the Chinese Internet Companies.This paper includes four parts. The first part is mainly an overviewof the overall overseas listing. It focuses on the concepts of overseaslisting and reasons why making the selection of overseas listing. The reasons include improving their corporate governance structure, improving enterprise management level, quickly raising corporate required funds, increasing their reputation and help the enterprisescontinue to expand overseas market. Taking the four advantages of overseaslisting into account, Chinese Internet Companies’selection for equityfinancing according to their own characteristics, has become theuniversal consensus of the Internet Companies. Then this part makes anoverseas listing summary and forecast for enterprises, especially theChinese Internet Companies’ status quo and trends. The second and thirdparts discuss the protocol control problems and information disclosureissues facing by Internet Companies, and provide some legal advices. Thesecond part analyses the specific model of the overseas listing， directlisting and indirect listing. According to the instance of InternetCompanies overseas listing, it analyzes and elaborates the mode ofInternet Companies overseas listing, that is the Sina model--the protocolcontrol mode--the improved indirect made shell listing model. The thirdpart puts forward some practical problems and the reasons why choosingthe protocol control mode and provides some advices to prefect theregulatory. The forth part reveals some problem facing by Chinese InternetCompanies when they were hunted. It proposes some reasons for informationdisclosure problems, and makes some recommendations to improveinformation disclosure regulation and help Chinese Internet Companies tosustained, stable and healthy develop.