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自70年代末以来,中国利用改革开放的政策、成本和市场优势以及广大的海外联系,成功地吸引了大量的外资。这些外资的进入,加上随之而来的先进技术和管理,大大推动了中国经济的发展,进一步促进了中国的改革开放。回顾中国10多年来引进外资的历史,大量的外资是通过设立外商投资企业(包括中外合资企业、中外合作企业和外商独资企业)引进的,有一部分是通过向外国政府和银行贷款取得的,还有一小部分是通过向外国发行债券形式取得的。这些形式在今后仍然十分重要。但是,中国政府和企业都越来越认识到,仅靠上述现成的方法是不够的。企业应该积极主动地走向海外资本市场进行融资,以求发展。本文主要介绍和分析近几年来中国企业正在试探的几种海外融资的新路向,以供拟向海外集资的企业参考。
Since the late 1970s, China has successfully used foreign investment in reforms and opening up policies, its cost and market advantages, and its vast overseas connections. The entry of these foreign funds, coupled with the advanced technology and management that followed, has greatly promoted China’s economic development and further promoted China’s reform and opening up. Recalling the history of China’s introduction of foreign investment over the past 10 years, a large amount of foreign investment was introduced through the establishment of foreign-invested enterprises (including Sino-foreign joint ventures, Sino-foreign cooperative enterprises, and wholly foreign-owned enterprises), some of which were obtained through loans from foreign governments and banks. A small part is obtained by issuing bonds to foreign countries. These forms are still very important in the future. However, both the Chinese government and enterprises are increasingly aware that the above-mentioned ready-made methods alone are not enough. Enterprises should take the initiative to go overseas capital markets for financing in order to develop. This article mainly introduces and analyzes the new directions of overseas financing that Chinese companies are exploring in recent years for the reference of overseas fund raising companies.