Theregulationontheacquisitionof across-border listedcorporationis animportant part of securities law. The different views about acquisition lead to the difference of the content of ac-quisition laws in different countries. In the cross-border listing situation，because of the difference of acquisitionlaws，it is fundamental to decidewhichcountry's lawshouldbeapplied，ifonecoun-try permits another country' s corporation listing in homeland. “Directive of the European Parlia-ment and of the Council of the 21 April 2004 on Takeover Bids”，which is built on the unified mar-ket，emphasizessupervisioncollaboration. Thehostcountrylawisthemainapplicablelaw. Butin othercountries orareas wherethereis nounifiedmarket，this kindofapplicablelawcouldnotbe acceptedwidely. USA emphasizes“affectiveprinciple”，which broad ens the application ofdomestic securities law to protect the profitofAmericaninvestors. Underthecircumstanceofcapitalmarket opening，Chinese“AcquisitionManagement Methodof ListedCompanies”，whichsimplyrequires application of Chinese law，cannot meet the demands of the complex reality. Company constitution and listing rules should be the main method in regulating the foreign companies listed in China.