外资股

外资股的经纪；

Brokerage of foreign shares ;

公司的内资股和境外上市外资股应分别按照中国法律及本章程的规定买卖、赠与、继承和抵押。

Selling , dotation , inheriting and mortgage of domestic share and overseas listed foreign share should be according to law and related regulation in China .

但是，合资公司只准承销外资股、政府和企业债券、以及A股IPO。

However , joint ventures are permitted only to underwrite foreign investment shares , government and corporate bonds and A-share initial public offerings .

含B股、H股、N股公司的股权分置改革涉及比较复杂的法律关系，有可能引发外资股股东提出的国际集团诉讼。

Companies which have issued A-shares , B-shares , H - shares and N-shares tend to be involved in complicated legal relation in the course of non-tradable shares reform , and may end up with international lawsuits .

含外资股公司股权分置改革诉讼风险分析

Litigation Risks of Listed Joint - ventures in Course of Non-tradable Share Reform

公众股和外资股可以上市流通，称为流通股。

Public stocks and foreign capital stocks are marketable , and called the tradable stocks .

外资股在境外上市的，称为境外上市外资股。

Foreign capital shares which are listed overseas shall be called foreign capital shares listed overseas .

在一般市场分割的情况下，外资股较内资股呈现出普遍的溢价状况。

In the case of market segmentation , foreign stocks generally shows price premium comparing to domestic stocks .

境外上市外资股在境外上市，可以采取境外存股证形式或者股票的其他派生形式。

The foreign capital stock listed abroad may be in the form of stock deposit receipts or in other derivations .

在2018年6月前在自贸试验区范围内开展放开专用车和新能源汽车外资股比限制试点工作。

Before June 2018 , restrictions on foreign investment in special and new energy vehicle companies will be eased in free trade zones .

如果第一大股东是外资股，则更可能聘请国际四大会计师事务所的境内合作所，以求降低其代理成本。

Thirdly , if the first stockholder is foreign investor , he is more likely to hire joint auditor firms with BIG 4 in order to reduce agency cost .

中国外资股相对于内资股折价是一个由来已久的问题，具有明显的中国特色。

The issue has been so long time that Chinese foreign stock has a much lower price compared with Chinese domestic stock , which is also unique for China .

已发行境内上市外资股及其衍生证券并在证券交易所上市的公司，应当同时编制年度报告的外文译本。

Companies that have issued domestically listed foreign-capital shares and derivative securities and have been listed in stock exchanges shall also prepare a foreign language version of the annual report .

（一）在证券交易所挂牌交易的除境内上市外资股以外的股票；本准则适用于中国境内的上市公司。

Shares listed in China 's stock exchanges ( excluding B shares ); The Code is applicable to all listed companies within the boundary of the Peoples Republic of China .

他相信，前所未有的增长速度、三类股票并存（内地、香港和外资股）以及波动性提供了特殊的机遇，这是通过传统指数无法捕捉到的。

He believes unprecedented growth , trifurcated shares [ mainland , Hong Kong and foreign classes ] , and volatility present special opportunities that cannot be captured through traditional indices .

此外国内外投资者需求弹性差异的加大是98年后外资股折价程度加深的主要原因。

In addition , the greater difference of demand elasticity between domestic investors and foreign investors make large contribution to deepen B share and H share discount degree in recent years .

关于汽车发动机的制造，中国代表还确认，中国同意自加入时取消合资企业外资股比不得超过50%的限制。

With respect to the manufacture of motor vehicle engines , the representative of China also confirmed that China agreed to remove the50 per cent foreign equity limit for joint-ventures upon accession .

国务院证券委员会批准发行境内上市外资股的总额应当控制在国家确定的总规模之内。

The total value of the foreign capital stocks listed in China authorized by the Securities Commission of the State Council shall be controlled within the maximum amount prescribed by the state .

为了进一步推进我国金融市场的有效性，降低本地股与外资股的价格差异，应该进一步扶持机构投资者并推广理性投资理念，加强信息披露的标准化，并且进一步开放本地资本市场。

In order to eliminate the price difference and improve market efficiency , we need to foster institutional investors and mature investment philosophy , strengthen and standardize information disclosure , and further open domestic capital market .

注释：没有发行（拟发行）内上市外资股的公司，无需就本条有关境内上市外资股的内容作出说明。

Note : For those companies that have not issued ( proposed to issue ) domestically listed foreign investment shares , no description is required here with respect to the contents of domestically listed foreign investment shares .

一家同时拥有内资股和外资股的上市公司，在相同的经营活动基础上披露的会计信息，存在股东权益和净利润的差异。

Discrepancies often occur in the data about stockholders ' equity and net profit in the financial exposure of a dually financed corporation with both domestic and foreign equity investment although they are calculated on the bases of the same operational activities .

上海市去年8月公布的政府采购自主创新产品目录中，获得批准的产品有500多种，但只有两种由外商投资企业生产，而且这两家企业都是合资企业，外资为少数股股东。

A Shanghai government indigenous innovation procurement catalogue published last August includes more than 500 approved products but only two that are made by foreign-invested enterprises , both of which are joint ventures in which the foreign partner is a minority shareholder .

外资收购企业国有股的法律问题

The Legal Issues in the Transaction of State-Owned Stocks in the Enterprises From Government to Foreign Capital