The Defects And The Perfection Of Our Legislation That Regulates The Foreign Capital M&A

Since the end of 2002, our government has passed several regulations about the Foreign Capital Mergers and Acquisitions (M&A). Comparing with the complicated problems on the Foreign Capital M&A, the present legislation has many defects. The article takes the object and the significance of analyzing the defects, referring to the experience of the foreign countries and making suggestions to perfect our regulations.The article includes four parts.The first part is about the summary of the Foreign Capital M&A. At first, it analyses the definition of the Foreign Capital. After that, the part discusses the notion of Mergers & Acquisitions, and summarizes the conception of the Foreign Capital M&A in the end of this part.The second part is about the present station and the defects on our legislation that regulates the Foreign Capital M&A. After a brief introduction of our current legal system about the Foreign Capital M&A, especially the new regulations, the part focuses on their limitations and drawbacks.The third part is about the foreign legislation that regulates the Foreign Capital M&A. Taking America, Germany, Japan for example, it introduce the foreign regulations, and summarizes their experience to make reference for our legal system.The fourth part is about the perfection of our legal system. On the basis of the defects on our legislation and the foreign experience, the part is provided with the suggestion about drawing up several fundamental laws such as The Basic Law of M&A, The Foreign Investment Law, Antimonopoly Law, and improving The Corporation Law and The Securities Law.