On The VIE Mode And Its Legal Regulation

In the 1990 s, for the safety of national economy, our government placed restrictions on some areas like telecommunication, but the capital is so important for Internet industry. In 2000, Sina initially used VIE to list overseas, afterwards so many Internet company imitated. With the time passing by, VIE’s defects frequently emerged, like Alipay、Baosheng Steel. But the domestic regulation system on VIE is not rigorous, even we have seldom regulations aiming at it. 《Foreign Investment Law》 was issued by Ministry of Commerce in 2015, the relevant departments thought highly of it. Based on it, this thesis researches the basic theory、regulation situation of VIE, and put forward some suggestions about it.There are five chapters in the thesis. The first chapter introduces some questions, set forth some cases; The second chapter introduces the basic theory of VIE, including definition、legal essence、development and the contract in it; The third chapter introduces how to list overseas using VIE and the legal risk of it, set foreshadowing for following section; The forth chapter introduces the supervision situation of VIE home and abroad, forming comparison; The final chapter put forward some suggestions aiming at the improvement of VIE. According to 《Foreign Investment Law》(draft), the final part show some possible direction of VIE, find the fundamental problem and solve them to make a good capital market and boost the economy.