Studies On Supervision Systems Of Chinese Enterprises Overseas Listing With VIE Structure

In order to circumvent the restrictions or prohibit the law and regulations of foreign capital entry China. In that case, the Chinese enterprises listed overseas adopt VIE structure, through analyses VIE structure and implement agreement control, not only introduction of “weak” foreign capital, also evade about state regulations of foreign capital admittance restrict. Take circuitous artifice behavior for evade obligatory regulations and in this behavior to achieve the actual effect of law is not allowed. Therefore, in the beginning the VIE structure has whether legitimate and further incur of “slack” “tight” dispute of the supervision.In this process of the argument, from the beginning of Sina model more than 250 Chinese enterprises through VIE structure achieve listed overseas, C hinese enterprises adopt VIE structure achieve listed overseas rapid permeation from internet and so forth new economic to multitudinous domain and industry, it may be said “A single spark” already prairie fire. The profitable from acquiescent supervision policy a great quantity existence of VIE structure. The acquiescent supervision for internet etc. science and technology enterprises of industry develop provide a great survival space. But become the question that the legal status of VIE structure is not clear and definite, and this structure long walk in the gr ay area. In this way, that will be unavoidable multiply interrelated legal risk. In the new period our country already get into overall push on ruling the country by law, the enterprises capital raising supervision system ruled by law naturally without exception. Noncommittal policy with VIE structure it was long walk in the gray area already 10 years progress and not conducive to the push on strategic of “internet +” and it is like a round peg in a square hole of ruling the country by law requirement. Top priority, that will be furtherance of VIE structure supervision system ruled by law as soon as possible. On the specific, it will be through differentiate shareholder and actual controller and make single stander of shareholder and actual controller substitute for identify with foreign capital shareholder nationality and would be in a position related to or compared with another for “Weak foreign capitals” and construct satisfy foreign capital admittance supervision system and enterprises capital raising supervision system for the internet etc. science and technology enterprises require.