Legal Issues On Listing In Hong Kong SAR Market Of Mainland Corporations

Listing in Hong Kong SAR market of Mainland corporations (hereinafter"listing") means that corporations registered in the mainland or not registered in the mainland but controlled by the state-owned capital or private capital list in Hong Kong stock market. This paper analyses the requirements, procedures and legal supervisions of listing both in the Mainland and in Hong Kong. On this basis, this paper wants to find out the problems of legal supervisions of the Mainland and puts forward advices to improve this issue.This paper is divided into five parts. Chapter 1 is to introduce the notions of listing, listing patterns and categories, history and present conditions, and to discuss the inherent characteristics and basic legal framework of listing. Chapter 2 is to introduce the content of Mainland's supervision, the regime and legal system of securities supervision. It probes into the characteristics of legal supervisions and focal points and special requirements of the approving procedures and substantive conditions. Chapter 3 is to introduce the content of Hong Kong's supervision, the regime and legal system of securities supervision. It also probes into the characteristics of legal supervisions and focal points and special requirements of the approving procedures and substantive conditions of Hong Kong authority. Chapter 4 is to probe into the supervision cooperation between the Mainland and Hong Kong, which includes the legal system of supervision cooperation, conflicts of law, dispute settlement mechanism and judicial assistance. The last chapter is to probe into the listing in Hong Kong of special Mainland corporations such as H Shares corporations, private enterprises and state-owned commercial banks. Based on this, this chapter also brings forward some advices for improving this issue.