Research On The Supervision Of Domestic Listing Of Overseas Enterprises

In today’s financial markets increasingly globalization and integration,China’s capital market has entered a deep reform important period,foreign enterprise within the territory of the listed for cross-border attribute to face both inside and outside the listed companies,and involve legal,financial,accounting,taxation,public programs and so on many aspects,not only for our country’s securities market supervision put forward the major challenge,also put forward higher requirements for cross-border supervision cooperation.After more than 20 years of development,China’s supervision of cross-border listing has become more standardized and prudent,but the regulatory concept still maintains the "management-oriented,market-supplemented" tone under the approval system.Most of the regulatory regulations are based on department notification and guidance,and there are few upper laws.The whole legal system lacks systematization and continuity,and is even less forward-looking.The current situation of sub-department management also leads to problems such as low regulatory efficiency and inconsistent regulatory regulations.Cross-border regulatory conflicts are also increasing with the development of the market.China’s foreign regulatory cooperation is mostly in the form of memorandum,which is not practical.How to regulate effectively has become an important issue for Chinese regulatory agencies,and the advanced experience of overseas supervision can be used for reference,which is worth our country’s reference.In addition to the introduction and conclusion,this paper consists of three parts.The first part of this paper is an overview of the domestic listing of overseas enterprises.Firstly,the concept and mode of domestic listing are introduced,and the exploration of domestic listing in China is introduced.Finally,the path of Chinese enterprises returning to a-share market abroad is compared,and the characteristics,advantages and disadvantages of each path are analyzed.The second part of the article analyzes the shortcomings of China’s domestic listing supervision,and explores them.Firstly,it analyzes the necessity of China’s domestic listing supervision.In view of the problems in the supervision of domestic listing,the deficiencies in the supervision will be listed one by one for in-depth analysis,mainly including four aspects: regulatory legal deficiencies;Deficiencies in the regulatory system;Deficiencies in regulatory practices;Deficiencies in regulatory cooperation.Then analyzes the cross-border regulatory conflicts.Then,it explores the international board and CDR model of China’s securities market.In the third part of the paper,Suggestions are put forward to improve the domestic listing regulation in China,clarify the objectives of legal regulation from the conceptual level,and draw lessons from the regulatory experience of the capital market of the United States and Hong Kong,China.From the perspective of problems,the Suggestions are mainly as follows: Unify legislation and improve the regulatory legal system of domestic listing;Improve the supervision mode of domestic listing;Perfect our country information disclosure system;We will strengthen cross-border regulatory cooperation.