民营企业赴港红筹上市的法律问题研究.docVIP

民营企业赴港红筹上市的法律问题研究 摘 要 近年来，因国内融资渠道限制多、监管严格、融资成本高等诸多原因，越来越多的中国民营企业选择到上市门槛较低，监管范围较小，上市成本较低的海外资本市场上市融资。作为世界四大金融中心之一的香港证券市场,对于意欲海外上市的内地民营企业来说，既得海外融资之利,又享本土市场之便，因此,其理所当然的成为内地民营企业海外上市的首选地。 民营企业赴港上市既要符合香港当地法律的要求，又要遵从内地政策的监管。企业如何构建海外上市的法律架构以简化审批、规避相关政策法规、加速上市进程是引发本文讨论的内容。第一章，介绍了本文的研究意义背景及文献；第二章，赴港红筹上市的相关概念论述。首先，对红筹上市的涵义及与其他上市类型的区别进行了分析。然后，对红筹上市监管的演变历程和民营企业赴港上市的两种基本方式进行了论述；第三章，赴港红筹上市企业的法律法规发展现状及存在问题。首先从内地和香港两个方面入手赴港红筹上市公司的法律法规发展现状，其次对内地与香港法律法规的差异进行了比较，最后结合相关的资料对赴港统筹上市的存在问题进行了分析，为下文的对策解决奠定基础。第四章，针对第三章的分析，从完善我国民营企业红筹上市法律监管体系方面提出了解决对策，并设计了两款民营企业规避国内监管政策的海外上市法律架构方案，亲属移民加借壳方案和协议控制方案。最后，得出结论：我国应以市场为导向，逐步建立健全证券市场相关的法律法规，减小与成熟市场之间的差距。 关键词: 民营企业 赴港上市 法律监管 规避 法律架构 LEGAL ISSUES OF PRIVATE ENTERPRISES RED CHIPS LISTED IN HK ABSTRACT In recent years, due to domestic financing restrictions, more stringent regulation and higher financing costs etc., more and more Chinese private enterprises choose to going listing in the overseas’ securities markets which have the relatively lower threshold , the smaller scope of regulations and the lower listing costs. Hong Kongs stock market, as one of the four major world financial centers, attracting the mainland private enterprises to public there, because HK securities markets not only has the vested interest of overseas financing , but also it is very near to the mainland. So as a matter of course, HK securities market become the first choice for mainland private enterprises which want to be listed overseas. Private enterprises in Hong Kong should not only meet the requirements of the Hong Kong local law and to comply with the mainland policy regulation. Enterprise how to build overseas listing legal framework to simplify examination and approval, avoid the relevant policies and regulations, and to accelerate the market is the process in this paper, we discuss the content of the. The first chapter, the paper introduces the background, research significance of this article and literature; The second chapter, the relative concepts of the red-ch