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第一，与买壳上市相比，造壳上市的风险和成本相对要低。造壳上市过程中，民营企业在境外注册的控股公司受国外有关法规管辖，这可在国内目前会计、审计和法律制度尚未完全与国际社会接轨的情况下，获得海外证券市场的法律认可，从而实现引进外资的目的，并同时可以获得较为广泛的股东基础，对壳公司的生产经营和市场开拓都有益处，且有利于提高壳公司的知名度。

First, compared with the RTO , making the shell listing the risks and costs are relatively low . Making the shell listing process , private enterprises registered abroad by foreign holding companies under the jurisdiction of the relevant laws and regulations , which may be present in the country accounting, auditing and legal system is not yet fully with the international community in the case , to obtain legal recognition of overseas securities markets , thus to achieve the purpose of attracting foreign investment , and also can get broader shareholder base of the shell company's production operations and marketing are beneficial and help to improve the visibility of the shell company .

Second , in conjunction with the company's own characteristics listed strategically selected locations . Such as to Hong Kong-listed abroad , many are high awareness of private enterprise and is an internationally renowned investment bank referrals, such as listing of " Mengniu Dairy " (HK2319) and "Tencent Holdings " (HK0700), IPO financing amount is climbing to more than HK $ 1.4 billion ; while smaller markets in Singapore , mainland competitors are relatively small, if the issue of small-scale enterprises , spend the same amount of effort and expense to make referrals, results in Singapore than in Hong Kong is good. In the current European and American capital markets IPO comprehensive financing costs roughly the amount of financing accounted for 10% to 30 %, the greater the amount of financing generally , the lower the proportion of comprehensive financing cost . In recent years , the foreign principal securities trading institutions and investment banks have set up offices in the country , has increased the Chinese market development , corporate finance costs decreased.

选择经验丰富的优秀投资银行作为保荐人和承销商是民营企业境外上市成功的保证，针对国内企业的具体情况和特点，民营企业可以注意以下几点：

Excellent selection of experienced investment banks as sponsors and underwriters of private enterprises listed overseas guarantee of success for the specific circumstances of domestic enterprises and characteristics of private enterprises can pay attention to the following points:

首先，应寻找一家有经验的财务顾问公司将自身内部存在的问题解决之后，再与保荐人、承销商、会计师及律师联系，不要过早签订过多的中介机构，导致上市成本增加。而且,由于管理层对国际中介机构的选择缺乏经验,因而往往未能在价格和工作能力的最优化上做出合适的选择。另外，由于大部分公司缺乏有上市经验的人才,以致在与境外中介机构沟通过程中,不能及时准备及提供符合相关要求的应披露资料,进而影响上市时间和进度,严重的甚至可能影响上市本身。

First, you should look for an experienced financial adviser company will own internal problems resolved, and then with the sponsors , underwriters , accountants and lawyers contact , do not sign too many intermediaries prematurely , resulting in increased costs listed . Moreover, since the management of international intermediaries choice inexperience , and thus often fail in terms of price and ability to work on the optimization make the right choice . In addition, because most companies lack market experienced personnel , resulting in communication with the outside agency process, can not be prepared to comply with the relevant requirements and the provision of information should be disclosed , thereby affecting time to market and progress , in serious cases, may affect the market itself . Domestic law and foreign law are different, th