See protocol control Mo "suspicious"

See protocol control Mo "suspicious"


to pay the stake in the dispute opened the "Agreement to control" the tip of the iceberg. Jingdong Mall Mister CEO Liu is pointed out that if the agreement to control the road, then all the Internet companies have problems. Because "I know all the domestic Internet companies that get financing, including listed and unlisted, are all Vie (agreement control) Structure!" Including Jingdong Mall. ”


"Agreement control" is rooted in China's foreign investment and industry supervision system. While attracting foreign investment, China has strictly restricted or banned foreign investment in many industries. More typical is the telecom value-added services such as Internet business, foreign investment is prohibited. However, in practice, many internet companies often need the support of offshore venture capital. In addition, the overseas listing is also the Internet company founder and the investor obtains the investment return the main way. "Protocol Control" mode is also known as the "Sina Model", due to the model in the Sina overseas red chips listed in the first precedent.


so "protocol control" is legal?


because its starting point is to evade China's laws and regulations, so its legality is open to question. The recent fall in Chinese concept stocks has been linked to a large extent to the question of the legality of the Agreement's control.


relevant experts pointed out that, according to the general rules of civil law and the contract Law, the Civil Act of evading the law refers to the Civil act of concealing illegal purpose in legal form, which means that one or both sides of the act conceal other illegal acts by the surface lawful civil behavior, thereby evading the sanction of the law. Because the Civil act of evading the law seriously damages the seriousness and authority of the national law, the Legality of the Civil Act is not recognized by the national law. This is precisely the potential problem of the legality of "Protocol control", so that all the companies under the control of the agreements have detailed risk disclosures when they are listed overseas.


but does this mean the end of protocol control?


I believe that the internet has always been China's economic field of "Special zone", if the use of the development of the region's thinking and model to consider, will be in all kinds of unreasonable to find reasonable logic and to obtain long-term operation of confidence.


In the beginning, our country set up special economic zone, there is no ready-made experience and model can be used for reference, only "stones". The same is true of the Internet industry, along the way "there are many people who have no way to go in the world."


in this collar area, the legal breakthrough is more than "agreement control" this article. On E-commerce tax debate chatter, so far Taobao as the representative of the "Consumer-to-consumer model" tax issues are not conclusive. Look at some of the commercial unofficial website, the policy also has the clear restriction, the website cannot publish the news which itself reports, does not have the interview right. However, the "news" Edge of the ball is endless.


said that reform and innovation, said the gray area, in fact, the internet on this experimental plot of most of the "results" can be retained.


we can not because of Alipay "agreement control" frustrated and "suspicious", because Alipay has its particularity after all. Financial industry for the lifeblood of national economy control, any country has a very strict financial sector supervision. It is reasonable for the government to regulate the financial industry over the Internet. For other Internet companies, the continued use of protocol control will not have much impact, the relevant regulators will not be able to easily break such a large number of Internet infrastructure.