VIE模式企业回归境内资本市场的法律思考
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摘要
随着中国资本市场的稳健发展,VIE模式企业回归境内资本市场成为不少企业的选择。本文从当前中国VIE模式所存在的法律风险和境内资本市场环境现状两方面寻找企业回归的动因,并分析在回归过程中所存在的法律风险,提出了VIE模式企业回归境内资本市场时降低法律风险的对策措施。
With the development of China’s capital market,the return to the domestic capital market has become the choice of many enterprises with the Variable Interest Entities (VIEs) mode.This paper seeks to investigate the motivations of these enterprises to return to the domestic capital market from the perspectives of the legal risks of the VIE mode and the current environment of the domestic capital market,and analyze the legal risks that exist in the process of returning.In addition,this paper puts forward some countermeasures to reduce legal risks when enterprises with the VIE mode return to the domestic capital market.
With the development of China’s capital market,the return to the domestic capital market has become the choice of many enterprises with the Variable Interest Entities (VIEs) mode.This paper seeks to investigate the motivations of these enterprises to return to the domestic capital market from the perspectives of the legal risks of the VIE mode and the current environment of the domestic capital market,and analyze the legal risks that exist in the process of returning.In addition,this paper puts forward some countermeasures to reduce legal risks when enterprises with the VIE mode return to the domestic capital market.
引文
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[2]胡海峰,陈明哲.关于我国优质企业境外上市的思考[J].经济纵横,2016(3):88-90.
[3]王军.法律规避行为及其裁判方法[J].中外法学,2015(3):18-38.
[4]中国民营经济国际合作商会.中国民营企业国际合作蓝皮书(2013)[M].北京:人民出版社,2014.
[5]暴风集团.2015年暴风科技公司年报[EB/OL].2016-04-19[2019-01-31].http:∥pdf.dfcfw.com/pdf/H2_A N201604180014408363_01.pdf.
[6]国务院.关于大力推进大众创业万众创新若干政策措施意见[EB/OL].2015-06-16[2019-01-31].http:∥www.gov.cn/zhengce/content/2015-06/16/content_9855.htm.
[7]朱慈蕴,沈朝晖.类别股与中国公司法的演进[J].中国社会科学,2013(9):147-162+207-208.
[8]刘纪鹏,刘驰.VIE回归热潮的冷思考[J].清华金融评论,2016(4):86-88.
[9]王喆,林蔚然.VIE模式会影响企业估值吗?兼论“中概股回归”后VIE企业信息披露监管[J].证券市场导报,2018(8):39-46.
[10]宋新潮,方敬春,董智,等.拆除VIE模式下的企业税务处理[J].财物与会计,2016(4):48-51.