| In the process of economic globalization, international merger and acquisition (M&A) has exceeded greenfield investment and became the major form of international direct investment. As a developing country, China has being attracted international investors because of our huge market and steady economic development. To keep our promise, our country has moved away a lot of limitation on fields of foreign investment and enacted a series of laws to promote and regulate foreign investment after the entrance of WTO. Therefore, international M&A in China has come into being in large scale. At the same time, foreign investors have paid much attention to listed companies, especially the ones in their same fields. However, M&A and monopoly are just like twins. Moreover, as we know that everything has two sides, what international M&A has brought about is not only capital, technology and advanced management experience, but also great risk of monopoly. Although, the former could promote these listed companies to improve their management structure, advance reform of state-owned companies and motivate our capital market. So, in order to safeguard our country's industry safety and structure, protect consumer's and country's rights, we must adopt successful experience of antimonopoly from western countries. Besides the policy of industry, foreign exchange and regulation on acquisition of listed companies, we must enact a unique antimonopoly law as soon as fast.We should definite the object of the law and the method of analysis during the process of controlling M&A. What's more, we should set up executive institutions and certain systems, such as report before M&A, censorship and hearing of witness. Penalty and immunity clauses are also needed. Meanwhile, we'd better learn from U.S.A to issue M&A guidelines according to economic development. By stating the emphasis of execution .It can match the changes of industry and foreign policy and regulate international M&A effectively.
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