反思与重构:我国公司境外上市法律监管体系的完善路径

Reflection and Reconstruction:The Method Choice of Perfecting Legal Supervision of Cross-border Listing

我国证券监管一直以公共利益理论为基础,形成了以政府监管为主的监管模式。随着证券市场国际化的发展,大量中国公司境外上市,公共利益理论对监管制度理论上的支持作用明显下降,因此需要更丰富的私人利益理论共同完善对公司境外上市的监管理论基础。本文认为,公司境外上市监管体系的完善,要在反思传统公权监管理念的基础上,从政府公权监管和证券行业自律、政府公权监管和私权诉讼两个方面,选择我国公司境外上市法律监管体系的完善路径,进而提出重构我国公司境外上市法律监管体系的建议。

Security supervision in China is based on public interest.With the development of international security market,many Chinese companies list cross border.It needs private interest theory to perfect the basis of supervision theory of cross-border listing.This article discusses the way of perfecting legal supervision of cross-border listing and comes up with legal advise of legal supervision of cross-border listing.