Study On The Run-off Of State-owned Assets During The Merger And Acquisition Of Foreign Capital

Since the 1990's,it has become a new trend for the foreign capital to enter into China by M&A the Sate-Owned Enterprises. On one hand, this trend brings many positive effects to the reform of Chinese state-owned enterprises, such as boosting the system innovation, bringing more investments, accelerating the technology innovation, finding the more new market and etc. However, on the other hand, due to the problems lies in the state-owned assets management system and the lagged legal system of the foreign capital's merging, there is a risk in losing state-owned assets with the foreign capital's merging. Merging without regulating will put a bad impact on the development of our country, the stabilization of our society and the achievements of opening up. Therefore, study on how to avoid state-owned assets from losing with the foreign capital's merging and how to make it a win-win situation are the key issues in our country. And that's the reason for choosing the title of this thesis.This thesis is divided into four parts. From the angle of law and economics, it begins with the juristically analysis in basic meaning of the foreign capital's merging and the lost State-Owned assets. By combining the approaches of theory and demonstration, the thesis probe into the ways of losing State-Owned assets during the foreign capital's merging. Furthermore, it discusses the causes of that and put forward the countermeasure in law. It tries to set up a scientific and systematic legal system to protect State-Owned assets from losing and find a suitable way for the China's reform and innovation.