| Since1990s, economic globalization has become the main trend, so an increasing number of outstanding enterprises in China embarked on the road of capital. Among all the methods of primitive accumulation of capital, isting is the best option for Chinese enterprises to accomplish further development. However, thanks to the limitation of domestic market, lots of enterprises turn to overseas market to pursue further development, and among which, indirect listing is the most popular way. To be listed indirectly by offshore financial centers will bring convenience to small and medium-sized enterprises on the one hand, especially private enterprises, and on the other hand, it may tiring troubles to domestic relative regulatory bodies.The first chapter is the theoretical basis for the definition of overseas indirect listing and it introduces the development progress of Chinese overseas indirect listing. Besides, in this chapter, it analyzes the motivation of overseas indirect listing.In the second chapter, it introduces the major forms of overseas indirect listing, which are backdoor listing and red-chip listing. By raising some examples, it focuses on explaining the two forms of special purpose vehicles controlling domestic enterprises, namely equity control and protocol control.The third chapter elaborates the status quo of Chinese legal supervision for overseas indirect listing, and from three angles, which are regulatory subject, regulatory foundation and regulatory details, conducts a detailed analysis.The fourth chapter conducts a simple analysis on the inadequacies of Chinese legal supervision for overseas indirect listing, and on the same time, makes some suggestions which the writer regards feasible from different aspects such as legal regulations and market regulations. |
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