This paper examines the deficiencies associated with Chinesefirms going IPO enmass olverseas．It argues that the large amount ofoverseas IPOs have drained andmarginalized the Chinese capital market．As a result，not only do the benefits oflisting abroad drop dramatically，but huge costs and the loss of State assets are also entailed．Based on the qualitative and quantitative analysis in this paper，wemake recommendationsfrom sixdifferentaspects．
VOLUME 2,NUMBER 2
ECONOMICS
JI BAOCHENG, LIU YUANCHUN
On the Problems Resulting from Listing Chinese Enterprises Abroad
CHEN YULU, ZHENG YANWEN
Global Imbalance and Expenditure-switching Effect in China
LIU YUANCHUN，HUANG ZUSHENG
Research on China's Monetary Independence
ZHU YING．YAN JUN
Determinants of Innovations in Small Chinese Manufacturing Firms：An Empirical Examination
PETER CLARKE
Encourage the Development of Smes：Some Evidence from Ireland
JOSEPH E．STIGLITZ
Towards a New Model of Development
SOCIETY AND RELIGION
ZHENG GONGCHENG，LINDA WONG
The Issue of Migrant Workers in China：Theoretical Judgments and Policy Suggestions
WEI DEDONG
The Social Science of Religion：Connotation and Value
INTERNATIONAL RELATIONS
XU QINHUA
China's Energy Cooperation with Central Asia and Its Possibilities for India
WANG YONG
Seek a Harmonious World：Philosophy of Chinese Foreign Policy and East Asia-Europe-US Relations
SYMPOSIUM
SHAPING CHINA'sENERGY SECURITY：ACTORS
AND PO LICIES
MENG YANBEI
Research on Certain Issues of China's Energy Legislation
WEIBIN
The Reform of China's Power Industry：The Urgency of a Systemic Overhaul
SHI DAN
Structural Reforms in China's Oil Industry：Achievements. Problems，and Measures for Further Reform
