英语论文网

中国民营企业到境外的其他股票市场上市已经十几年了。十几年的境外上市历程一方面通过外资的引进，进而开拓了企业的筹资渠道；另一方面推动了中国民营企业改革，完善了公司的治理结构和加快了现代化企业制度的步伐。此外，境外上市之所以能够引起了这么人的关注，是因为它不仅加速了中国民营企业国际化的进程，同时也让世人看到了这个过程中取得的成就。

Chinese private enterprises to go abroad to other stock markets have been more than ten years . Ten years of overseas listing process on the one hand through the introduction of foreign capital , and thus open up the company's funding sources ; hand to promote the reform of China's private enterprises , improve the company's governance structure and accelerating the pace of modern enterprise system . In addition, the overseas listing can arouse the concern of so many people , because it is not only accelerated the Chinese private enterprises in the process of internationalization , but also let the world see the achievements of this process .

2010年，随着全球实体经济将进一步回升，各交易所的新股发行活动将更加活跃。而近年来随着中国经济在全球地位的提升以及中国企业在资本市场的较好表现，世界各大交易所对中国企业约家中时，频频向中国企业发出上市邀请。

2010 , as the global real economy will further rise , the exchanges of IPO activities will be more active. And in recent years, as China's rising status in the global economy and Chinese enterprises better performance in the capital market , the world's major exchanges around the home for Chinese enterprises , the issue frequently to Chinese companies listed on the invitation. 2009 NASDAQ, New York Stock Exchange , the London Stock Exchange, the Korea Stock Exchange, the Tokyo Stock Exchange, Euronext etc in China increased publicity , or conducting activities or participate in the forum to invite China listed companies , resulting in more Chinese private enterprises listed overseas .

另一方面，中国民营企业在境外上市也遇到了很多的问题。中国民营企业到境外上市大多数是趋于对资金的需求，但他们却忽视了在融资的过程中需要花费大量的融资成本，能否将筹得的资金与花费的成本更好的平衡成为了众多民营企业关注的焦点。在欣喜中国民营企业走向境外的同时，是不是应该反思一下为什么更多的民营企业选择到境外上市，而不是在境内上市。国内的资本市场是不是存在缺陷，是不是资本结构还不够完善。

On the other hand , Chinese private enterprises listed overseas have encountered a lot of problems . Chinese private enterprises listed overseas mostly tend to demand for capital , but they have been ignored in the process of financing takes a lot of financing costs , the ability to spend the funds raised and the cost has become a better balance the focus of many private enterprises . Excitedly toward overseas Chinese private enterprises at the same time , is not it should reflect on why more companies choose to overseas listing of private , rather than in the domestic market . Domestic capital market is not flawed, the capital structure is still not perfect .

With 1990 CITIC Pacific backdoor listing in Hong Kong , opened a Chinese enterprises in foreign financing of the regiment. Two decades, domestic enterprises have to go abroad, to foreign financing. In the end of 1992 after the establishment of China Securities Regulatory Commission , to approve the first companies listed abroad . China's first batch of companies listed in the U.S. , and soon formed a boom in the New York Stock Exchange in July 1993 reached a climax. Tsingtao Brewery being sought by the most typical , when 39 famous foreign investment companies scrambled to when its agents, but also over- subscription rate of 200 times , the highest price reached 14 million. However, due after the Mexican financial crisis, this trend continued into 1994 subsided , the share price at rock bottom .

By 1995 , the "Ninth Five " period, the Chinese government to develop a power