| LIST OF SYMBOLS & ACRONYMS | 第10-14页 |
| Chinese Version / 摘要 | 第14-15页 |
| English Version | 第15-17页 |
| ACKNOWLEDGEMENTS | 第17-18页 |
| 1. INTRODUCTION & MOTIVATION | 第18-23页 |
| 2. RESEARCH FOCUS | 第23-26页 |
| 3. BACKGROUND & LITERATURE REVIEW | 第26-46页 |
| 3.1 Overview of the Chinese Stock Market | 第26-28页 |
| 3.1.1 Introduction of Chinese Regulatory Authorities | 第27-28页 |
| 3.2 Overview of the German Stock Market | 第28-36页 |
| 3.2.1 CEINEX-a new Marketplace for D-Shares in Frankfurt | 第30-35页 |
| 3.2.2 Introduction of German & European Regulatory Authorities | 第35-36页 |
| 3.3 Historical Relevance of Cross-Listings on an International Scale | 第36-37页 |
| 3.4 Different Forms of Cross-Listings around the Globe | 第37-39页 |
| 3.5 Overview of Selected China-related Share Types Overseas | 第39-44页 |
| 3.5.1 D-Shares-a Special Case of Chinese Cross-Listings Abroad | 第43-44页 |
| 3.6 Relevant Legislative Framework for D-Shares | 第44-46页 |
| 4. ANALYSIS | 第46-71页 |
| 4.1 Legal Framework Governing the 'Exploration & Preparation' Phase | 第46-55页 |
| 4.1.1 Requirements stipulated by the Company Law of the People's Republic ofChina | 第47-50页 |
| 4.1.2 Requirements stipulated by Securities Law of the People's Republic ofChina | 第50-55页 |
| 4.2 Phase 2-Chinese Regulatory Approval | 第55-62页 |
| 4.2.1 CSRC Measures for the Administration of Initial Public Offering andListing of Stocks | 第55-59页 |
| 4.2.2 Special Regulations of the State Council concerning issuing and listing ofshares overseas by company limited by shares | 第59-62页 |
| 4.3 Phase 3-German Regulatory Approval & Listing | 第62-71页 |
| 4.3.1 Requirements stipulated by the German Securities Trading Act | 第62-63页 |
| 4.3.2 Requirements stipulated by German Exchange-Approval Regulation(Borsenzulassungsverordnung, Bors VO) | 第63-65页 |
| 4.3.3 Securities Prospectus Requirements stipulated by the European ProspectusRegulation and German Securities Prospectus Law | 第65-67页 |
| 4.3.4. Relevant Exchange Rules of the FWB to be Considered by Issuers | 第67-68页 |
| 4.3.5. CEINEX General Terms and Conditions Covering D-Share Issuance | 第68-71页 |
| 5. CONCLUSIONS | 第71-90页 |
| 5.2 Outlook | 第88-90页 |
| 6. ENCOURAGEMENTS FOR SUBSEQUENT RESEARCH | 第90-92页 |
| 7. BIBLIOGRAPHY | 第92-106页 |
| A. APPENDIX | 第106-107页 |
| A.1 Biographical Sketch | 第106-107页 |
