Introduction

I. Historical Development and Current Scale
II. Legal Framework Under National Laws

A. Securities Legal Framework Under International Influence
B. The National Securities Law and its Scope of Application
C. Stock Companies and Securities Issuance
D. "Chinese Classification" of Stock
E. Market Regulations
F. Regulations on Acquisitions
G. Regulations on Securities Industries

III. Foreign Investment In Chinese Securities

A. Foreign Investment Shares Listed in China - B Shares
B. Overseas Listing

IV. The Inevitable Reform Driven by WTO

A. GATS Overview: The Premises of GATS on Financial Serives
B. GATS Impacts upon China's Securities Markets and Regulatory Syetems

V. Analysis and Conclusion

A. Reforming SOEs through Transforming Them into Stock Companies: A dream? A Game?
B. Road Ahead: Relinquish State Dominance and Government Control of economy.
C. Conclusion.