Driven by the 4th and 5th global merger waves, we have witnessed a rapid growth of cross-border M&As heralded by Chinese corporations, after whose fledgling period in 1980s and 1990s. So far it still stays in a primitive level when it comes to the amount and volume, styles, ways of transaction, bidders and targets of the said M&A.In spite of the progress achieved, Chinese corporations have met so many obstacles in their way of cross-border M&As: the amount and volume is too small compared with global peers; the objects of M&As is narrow-minded oriented; there's still a long way to go to achieve market-oriented M&As. To solve these problems, both Chinese government and enterprises should learn from foreign counterparts, as well as draw conclusions from our own experiences, in a bid to herald an era of M&As with Chinese characteristics.
|