On The Laws Of Foreign M&A Of Listed Company

With the cross-border M&A (hereinafter, CBMA) becoming increasingly outstanding in the international direct investment , the host countries value the legislatively CBMA more and more, and pass the sound law to absorb more foreign capital and restrict the disadvantageous influence .But our current law still need to improve , this article will launch a study on the foreign M&A(FMA) law.With China 's entry into the WTO, FMA plays a more and more important role in the foreign investment to China.To use the foreign capital more effectively,the lawmaking is the key.And the current listed company has become the focus of the foreign capital because of its special advantage. Therefore, we still need to pay attention to the special problems concerned with the listed company M&A.In this way, we can build the really valuable system to rule the FMA to China's listed companies.This article, first introduces the development of the CBMA and our FMA development with some related problems including monopoly problem. And the lawmaking is aimed for the solution to the problems concerned with the FMA and for promoting our country economic development.But our current laws exsit quite a few problems, such as the lack of antitrust law and the disorder state of the law system etc.Then, this article begins in detail introducing the problems to the lawmaking condition of the FMA of the listed companies.And the author gives the suggestions to the sollution to the problems.This article also makes the detailed introduction to the FMA laws of the United States and other developed countries in order that we can learn legislatively some experience from them. The problems concerned with the antitrust law and security law, have gained special attention. This article also makes the evidence analysis, to further explain the existing law problems.Through the theory analysis and substantial evidence support, this article draws the following conclusions: first, our law system of foreign capital M&A in our country should adopt the one track system with exception and exempt to some special problems; second, we should further improve series of laws including the enterprise M&A law, foreign investment law, stock law, antitrust law and company law etc; third, as for principles for the foreign capital M&A laws we should carry on such principles such as antitrust, benefit-protection, equity-protection etc; and for the purpose of lawmaking, we should try to promote the state-owned property reshuffling, and also to protect the free competition system last; as for the foreign capital M&A models, we will have more and more scientific M&A models for listed companies with our law being built better and better.