The Study On China's Government Regulationnsof Cross-Border M&A By Foreign Capital

As the most important kind of Foreign Direct Investments (FDI), Cross-border Mergers and Acquisitions (M&A) is playing a more and more important role in the economic growth, scientific and technological progress and national welfare all over the world in the process of economic globalization and technology globalization.With the growth of foreign investment in China, M&A is becoming more and more popular which brings both good and bad influences to the economy. The regulation system for M&A is under construction and improvement. This dissertation details the research on the governmental regulation system in the process of the foreign-funded M&A with Chinese companies happening in the market economic system and transition because there are many questions in the practice of Chinese M&A. It also puts forward the policy frame for M&A's regulation, and tries to give some valuable advice for the perfection of the regulation. The dissertation is divided into eight parts.Part One mainly gives the background for the complete discussion of the topic. First it defines the Cross-border Mergers and Acquisitions, and also analyzes the foreign-funded Mergers and Acquisitions from the view of the host nation to make a research body for building the M&A regulations. It also analyzes that Cross-border M&A has different influence on the different kinds of host nations. The different profit acquired from M&A leads to the attitude of different nations.Part Two analyzes the character of foreign-funded M&A in China and the special motive for the M&A. It also sorts and summarizes the M&A forms. Part three offers the basis for the regulation.Part Three analyzes the positive and negative influence from the foreign-funded M&A. Foreign-funded M&A fever has entered the immature marketing economy, which influences the construction and development of Chinese marketing economy greatly. Part Four explains in detail the foreign funds policies, competitive policies and investigation system based on the utility analysis of multinational M&A, then preliminary found the logical framework for multinational M&A in theory.Part Five compares the regulations for multinational M&A between developing and developed countries. The multinational M&A regulations in different countries at different period offer some lessons and experience to learn from for Chinese multinational M&A.Part Six gives a complete analysis and comment on the legal system, foreign-fund management policy, competitive policy and auditing system and also lists five questions.Through the relationship analysis between multinationals and host nations, Part Seven gives the target system for multinational M&A's regulation, explains the goal and principle for M&A's regulation and founds the multinational M&A's regulation.Part Eight emphasizes on the market structure for multinationals' entry, the choice of motivation policy degree for the central government to attract region foreign funds and capture theory in cross-border M&A. It also put forward some detailed suggestions.