A Study On Legal Issues Of Foreign Capital M&A Of China's Listed Companies

Since the 1990s, large-scale transnational merger & acquisition has become more and more fierce. The fact super large-scale merger & acquisition has take place frequently has brought profound changes to the world economic structure. And the fact super large-scale firms have appeared constantly have brought great change in the competition in the trade. After China joining WTO, the foreign capital will more frequently use the way that is popular on international by means of merger & acquisition to set up the enterprise in our country, specifically including the agreement merger & acquisition,merger & acquisition in the property right transaction market, merger & acquisition in the stock market, merger & acquisition through the stockholder's rights transferring and by the way of increasing the capital to expand the stock and so on." World Investment Report in 2000" that published by The Trade and Development Committee of United Nations also forecasts: China will allow the foreign capital enter the China capital market by the form of merger & acquisition when joins WTO. So, China will appear a new high tide using foreign capital when joins WTO. In order to greet this new high tide, domestic should speed up to formulate the laws,regulations and the related policies of merger & acquisition, and to provide the legal frame in order to solve the problem which transnational merger & acquisition possibly meets to.Therefore, the thesis grasps this time pulse, chooses this starting point. This thesis tries to make a study of China's trade system of foreign merger & acquisition on the basis of theory of system change of institutional economics. The deep consideration of the change of systems in the thesis is of great importance to the understanding of the thesis. The thesis is composed of five parts. Part one is the introduction. It mainly introduces the background of the topic and significance of the study. It makes a brief account of the current situation in the study of the topic, innovations and the method used in the thesis. Part two deals with the general theory of foreign capital merger & acquisition. Mainly I make the new understanding of the definitions of foreign capital,merger & acquisition and...