Research On Legal Issues Of VIE Model Supervision

Since Sina has successfully went to the United States through the construction of the VIE architecture,more and more companies have followed the needs of financing,and the Sina mode is followed by this VIE mode.With the widespread use of Vie mode,some legal risks are also exposed in practice,and the existing legal provisions have not been determined for the legal or no determination of VIE mode,and there are also many shortcomings in legal supervision.Therefore,how to determine the effectiveness of the Vie mode,improve the legal supervision of VIE mode,reduce the risk of VIE mode,to optimize investment environments,promote healthy development,is the problem that the academic,practice and regulatory authorities should consider.This paper takes the Yaxing Industries v.Anbo Education case as an example,from the "Cooperative Framework Agreement",the legality of the Vie mode,the two disputed focus,discuss the legal effect of Vie mode,And summarize the deficiencies of existing supervision,and propose advice to improve supervision.This article has four parts: The first part is the introduction,which explains the research background,research status and main content;the second part is the case of Yaxing Real Estate v.Ambow Education,and the reasons for the judgment of the court of first instance and the court of final instance And analysis of the results,and put forward the focus of disputes in the two cases of the validity of the "Cooperation Framework Agreement" and whether the VIE model has legal effect;the third part,from the corporate nature of Ambow Education and whether the "Cooperation Framework Agreement" is true to both parties Analyzing and demonstrating the validity of the first controversial focus of the "Cooperation Framework Agreement" from four perspectives:whether it violates the mandatory provisions of laws and administrative regulations and whether it will threaten the security of China's education industry.Effectiveness,whether the VIE structure is proper,and whether the "Foreign Investment Law" recognizes the effectiveness of the VIE model.A legal analysis of the effectiveness of the VIE model is the second focus.The fourth part mainly introduces the deficiencies of the VIE model supervision and suggestions for improvement.The financing difficulty of enterprises,the investment risks of foreign investors,the financial security of the host country of listing,and the protection of the national security of the country are discussed on the necessity of VIE mode supervision.Based on the current status of VIE mode supervision,it is proposed that there are still legislative supervision and administrative supervision.In the end,it is problem-oriented and puts forward more targeted suggestions to improve the VIE model supervision,such as improving the negative list of foreign investment,further improving and revising the "Foreign Investment Law",clarifying the supervisory body and the division of powers.