Research On The Overseas Re-orgnization Mode Of The Red Chips Listing Of Chinese Enterprises

The continuous and high-speed development of the Chinese economy expedites a batch of outstanding local enterprises with high quality products and broad market prespects. However, they are impeded on the development path by the lack of necessary finance. Because the local credit system and capital market can not afford and satisfy the financial demands of those enterprises, more and more Chinese enterprises put their eyes on the international capital market and make big successes. Chinese concept stocks are highly welcomed in the international capital market. However, as the result of the specific survival requirement and legal environment, more Chinese enterprises also encount a series of actual problems on the process of overseas listing, which are mainly manifested in the overseas re-orgnization process. Chinese enterprises will encount many difficulties even fail to enter the overseas market unless such actual problems can be solved properly.However, many enterprises face a series of practical problems in the process of listing overseas due to the given qualification and environment of law. Those problems are mainly emerged in the procedure of overseas M&A, which are of great importance and should be solved appropriately. Otherwise, companies will confront with a great deal of difficulties, even failure while listing overseas. The research background of this paper is to summarize the classic modes and experiences through deeply empirical analysis of the overseas M&A mode of those listed or non-listed companies, which are significance for Chinese SMEs which are willing to enter international capital market.With the reference to a big amount of documentary materials, laws and regulations of the red chips listing in the past years, under the instruction of Prof. Jianmei Zhao with the utmost attention, the author made an independent researth on the overseas re-orgnization mode of the red chips listing of Chinese enterprises. Firstly, the author defined the red chips listing and overseas re-orgnization based on the history and current status of the red chips listing; and then, the author focused on the analysis of modes, main points an difficulties of the red chips listing and overseas re-orgnization combining with real cases; finally, the author combed recent governental policies of, laws and regulations of the supervision on red chips listing, and futher innovated the new thought of the mode of red chips listing and overseas re-orgnizaion of Chinese enterprises by comparising with recently-promulgated laws and regulations.