Improvement Of The GEM Listing Standards And System From Overseas-listed Chinese Internetent Erprises

Chinese companies listed on overseas stock markets began in the20th century90’s.With the global economic integration and rapid economic development of China, more and more Chinese companies go out of country through various channels, seek for listing overseas capital markets. Overseas listing, the Chinas enterprises can use of international capital, better participate in the global competition and enhance the efficiency of use of world resource. It helps to improve the competitiveness of China’s economy. And it also helps Chinese companies to establish modern enterprise system, improve the structure of administration. But so many people of Chinese industry to abandon occupied its local advantages and selected overseas markets, and this phenomenon is worthy of careful consideration. As the name implies, overseas listing is listed on oversea stock markets or regional market. Securities issuers and investor usually come from different countries or regions, which also leads to more relations and legal issues. Different countries and regions based on their interests, need to formulate different standard and system. In overseas listing companies, should not only meet the standards from own country, also want to accept the standard of the country from the public. the overseas listing enterprise should not only meet the standards from own country, but also meet the standard of listed countries. This article is divided into three chapters to analysis of overseas-listed Chinese Internet enterprises of the GEM listing standards and systems improvement in a different perspective.This chapter is written from four times of our Internet companies Listed to the United States, explained the potential of the growing wave of Internet companies listed. Secondly, for a typical example:success record of Baidu IPO to USA. Look back on Baidu’s development history. it’s worth noting that the part of this article explains how to become a young enterprise to the market value of hyper-Shanghai Airport by comparison way. Then, Bait a piece of jade with a brick to illustrate the boom of the Internet IPO caused by Baidu, to Show and spectacular phenomena of Chinese enterprises listed overseas. Third section of this chapter describes the way of Chinese enterprises listed abroad, specific analysis of the advantages and disadvantages of three different overseas listing.This chapter is focused on the cause of China’s Internet companies overseas listing. First section introduces the legal rule of the domestic GEM listing to the Internet companies. The article of this part elaborates specific conditions of domestic Chinese Internet enterprises listed on the growth enterprise market by law. Then the article elaborates the GEM listing conditions specific legal analysis, explains a legal background of the reason why enterprises keen to go overseas. Section Ⅱ of this chapter describes the Internet overseas on the market rule of law,in other words, the rigid conditions of Chinese enterprises listed abroad by setting which are primarily by the China Securities Regulatory Commission, the State administration of foreign exchange, the State-funded Commission, Department of Commerce and the State administration of taxation law and regulation. Then the part of this chapter describes the "access" rules of major oversea listed.In this session, the article introduced the basic conditions of the major oversea stock market listing, and illustrate. The securities market of USA and Singapore The stock markets of Singapore as example. Section Ⅲ of this chapter analyses the causes of China’s Internet companies keen to overseas.It is divided into four major reasons to specific analysis. This chapter elaborates that the recollections of china’s growth enterprise board listing standards and the system perfection. Firstly, the article of this part illustrates that the legal defects of china’s growth enterprise board listing standards. Analyzed from two main areas.one point is that the china’s growth enterprise board listing standards for Internet companies’profit requirement is too high.With the United States NASDAQ to justify this view.another point is that this article describes the Internet domestic listing fees are too high by the examples of Hangzhou Shun network technology Co Ltd. Secondly, I raised my view that the suggestions for improvement of law institution of china’s growth enterprise board listing of the Internet companies. Recommendations contained in the reducing the GEM listing standards, introduction of a market-maker system, reduce the Internet market threshold, and strengthen auditing supervision, reduce listing fees.