摘要
《外国公司问责法案》经美国总统特朗普于2020年12月18日签署而正式生效。该法案直指在美上市的中资企业,将两国证券监管合作的矛盾和分歧上升到金融脱钩,使得在美上市的中资企业面临下市和被迫退出美国资本市场的风险。《外国公司问责法案》是近年来中美两国贸易摩擦向金融领域的延伸,也是美方提出的“脱钩论”在贸易和投资领域之外的纵向发展。中美贸易冲突不仅没有随着《中美经贸协定》(第一阶段)的签署而得到缓和,反而在新冠疫情之后继续加剧,并且向金融、科技和教育等领域蔓延,中美两国“脱钩论”甚嚣尘上。美国加紧在金融领域通过法律战的方式推进中美“脱钩”,对中资企业在美上市融资构成现实威胁。中国应该通过法律的方式,在技术层面应对中美监管合作,化解和弱化双方的监管合作矛盾。
Holding Foreign Companies Accountable Act was signed by US President Trump on December 18,2020 and officially came into force.The Act directly refers to Chinese enterprises listed in the United States,which raises the contradictions and differences between the two countries securities regulatory cooperation to financial decoupling,bringing the risk of delisting withdrawing from the U.S.capital market to the listed Chinese enterprises.The Act is the extension of trade friction between China and the United States to the financial field in recent years,and also the vertical development of the“decoupling theory”proposed by the United States outside the trade and investment fields.Different from previous trade confrontations,the ongoing US-China trade war is expanding to investment and finance from trade.The trade war between the two countries has not eased due to the signing of the US-China Phase 1 Trade Deal in January 2020,but even worsened along with the coronavirus pandemic.The US seems to speed up the de-coupling process from China,which poses severe threats and challenges to Chinese firms listed in the US.This article tends to focus on the two countries controversy over the regulatory cooperation in the field of the capital market,analyze relevant legal issues,and accordingly propose some possible responses.
作者
沈伟
SHEN Wei(Law School,Shanghai Jiao Tong University,Shanghai 200030,China)
出处
《浙江工商大学学报》
CSSCI
北大核心
2021年第2期32-46,共15页
Journal of Zhejiang Gongshang University
基金
教育部哲学社会科学研究后期资助项目“中美贸易摩擦和国际经济秩序研究”(20JHQ072)
国家社会科学基金重大项目“建立健全我国网络综合治理体系研究”(20ZDA062)
中国法学会2020年度部级法学研究课题“国际经贸规则体系变化及中国应对研究——以中美贸易摩擦为切入”(CLS(2020)ZX055)
中国-上海合作组织国际司法交流合作培训基地2019年研究基金项目“一带一路沿线国家投资风险治理的条约化路径——以上合组织成员国为研究对象”(20SHJD012)。
关键词
“脱钩论”
《外国公司问责法案》
中资企业下市
de-coupling
Holding Foreign Companies Accountable Act
Chinese companies delisting
