根據(jù)以往中國公司執(zhí)行上市的案例表明了國際化交叉上市深受中國公司的歡迎。以D股在法蘭克福中歐國際交易所上市做為二次上市是國際交叉上市的形式之一,這種形式向中國公司提供了除現(xiàn)有上市渠道如香港和紐約外的一個全新的上市渠道。法蘭克福,做為歐洲主要的金融中心,代表著對中國公司極有吸引力的上市地點并為發(fā)行人提供進(jìn)入投資者新團(tuán)體的通道。同時,非中國投資者不需要遵守嚴(yán)格的監(jiān)管和外國投資在中國（PRC）的技術(shù)障礙[1]就有機(jī)會在D股市上投資中國公司。本論文對兩個司法上市機(jī)制進(jìn)行了比較,為未來的發(fā)行人提供了對申請流程更好的理解。整個上市和發(fā)行過程分為三個階段,這項工作突出了每個階段的主要步驟。最大的差異在于由國家監(jiān)管機(jī)構(gòu)管理的審批流程以及為這些審批保留的期限。在中國的IPO上市需要得到中國證監(jiān)會的批準(zhǔn)和實質(zhì)性的定性審查。中國證監(jiān)會要求所有指標(biāo)都是盈利的。這不同于德國的審批系統(tǒng)如德國聯(lián)邦金融監(jiān)管局（BaFin）僅批準(zhǔn)招股說明書而不進(jìn)行定性審查。本論文將提供相關(guān)法律,法規(guī)和規(guī)則的整體回顧。 

【文章來源】：北京外國語大學(xué)北京市211工程院校教育部直屬院校

【文章頁數(shù)】：107 頁

【學(xué)位級別】：碩士

【文章目錄】：
LIST OF SYMBOLS & ACRONYMS
Chinese Version / 摘要
English Version
ACKNOWLEDGEMENTS
1. INTRODUCTION & MOTIVATION
2. RESEARCH FOCUS
3. BACKGROUND & LITERATURE REVIEW
    3.1 Overview of the Chinese Stock Market
        3.1.1 Introduction of Chinese Regulatory Authorities
    3.2 Overview of the German Stock Market
        3.2.1 CEINEX-a new Marketplace for D-Shares in Frankfurt
        3.2.2 Introduction of German & European Regulatory Authorities
    3.3 Historical Relevance of Cross-Listings on an International Scale
    3.4 Different Forms of Cross-Listings around the Globe
    3.5 Overview of Selected China-related Share Types Overseas
        3.5.1 D-Shares-a Special Case of Chinese Cross-Listings Abroad
    3.6 Relevant Legislative Framework for D-Shares
4. ANALYSIS
    4.1 Legal Framework Governing the 'Exploration & Preparation' Phase
        4.1.1 Requirements stipulated by the Company Law of the People's Republic ofChina
        4.1.2 Requirements stipulated by Securities Law of the People's Republic ofChina
    4.2 Phase 2-Chinese Regulatory Approval
        4.2.1 CSRC Measures for the Administration of Initial Public Offering andListing of Stocks
        4.2.2 Special Regulations of the State Council concerning issuing and listing ofshares overseas by company limited by shares
    4.3 Phase 3-German Regulatory Approval & Listing
        4.3.1 Requirements stipulated by the German Securities Trading Act
        4.3.2 Requirements stipulated by German Exchange-Approval Regulation(Borsenzulassungsverordnung, Bors VO)
        4.3.3 Securities Prospectus Requirements stipulated by the European ProspectusRegulation and German Securities Prospectus Law
        4.3.4. Relevant Exchange Rules of the FWB to be Considered by Issuers
        4.3.5. CEINEX General Terms and Conditions Covering D-Share Issuance
5. CONCLUSIONS
    5.2 Outlook
6. ENCOURAGEMENTS FOR SUBSEQUENT RESEARCH
7. BIBLIOGRAPHY
A. APPENDIX
    A.1 Biographical Sketch


【參考文獻(xiàn)】：
期刊論文
[1]現(xiàn)代化范式與中國法理學(xué)的“理想圖景”[J]. 劉旺洪.  北方法學(xué). 2009(01)
[2]改革開放三十年的中國法理學(xué):1978-2008[J]. 劉雪斌,李擁軍,豐霏.  法制與社會發(fā)展. 2008(05)
[3]改革開放30年來公司立法的回顧與前瞻[J]. 劉俊海.  法學(xué)論壇. 2008(03)



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