A Study For The System Of Antimonopoly Review In Merger And Acquisition By Foreign Capital

With the speeding up of the globalization, merger and acquisition by foreign capital becomes a primary method of international direct investment, because it can reduce the cost, improve the efficiency and optimize the allocation of resources all over the world. In addition, it can reflect the prosperity of the global competition. Though the merger and acquisition by foreign capital brings some positive influence, it also has an inevitable monopoly tendency, which may damage the market economic system and the public interests of the host country. Therefore, the common global practice is to adjust and regulate this kind of merger and acquisition by the anti-monopoly law, as well as establish a mature system of anti-monopoly regulation to inhibit the negative effects. So it is essential to discuss and study on the regulation of the merger and acquisition by foreign capital with an anti-monopoly perspective. Learning from the practice of other countries, we should establish a perfect system of the anti-monopoly review in merger and acquisition by foreign capital, in order to reduce the negative effects and protect the security and independence of the economy of our country.Besides the introduction and the conclusion, the article is divided into five parts.Part one analyses the concept of the merger and acquisition and the foreign capital at first. So we can get a clearly concept of the merger and acquisition by foreign capital. Then this part analyses the reason and the target of the anti-monopoly review in merger and acquisition by foreign capital.Part two firstly explore the principles of the institution of the anti-monopoly review in merger and acquisition by foreign capital, including the independence principle, the authority principle, the efficiency principle and the professional principle. Secondly, this part explores on the institution of the anti-monopoly review in merger and acquisition by foreign capital of our country based on a detailed discussion on the function and institution of the anti-monopoly review in merger and acquisition by foreign capital of the European Union and the USA.Part three proposes the object, standard and exemption of the anti-monopoly review in merger and acquisition by foreign capital. The discussion on the standard is divided into two aspects, including the principle standard and the comprehensive standard. The comprehensive standard includes the determination of relevant market and market structure.Part four expounds the procedure of the anti-monopoly review in merger and acquisition by foreign capital. It mainly includes the situation, duration and content of the declaration, the due process and the term of review.Part five describes the extraterritorial effect of the anti-monopoly review in merger and acquisition by foreign capital. At first, this part analyses the establishment and the development of the extraterritorial application of the anti-monopoly. Secondly, this part analyses the extraterritorial effect of the anti-monopoly review in merger and acquisition by foreign capital in our country.