U.S. National Security Review Of Foreign M&A System And Its Inspiration

Today's world of foreign investment capital invest the domestic market, on the one hand , they open doors, welcome to make up for capital, technology industry of the domestic market;On the other hand, on a strict review of foreign acquisitions in order to prevent foreign acquisitions harm its own national security, national industrial development and other hazards.The most representative in this respect ,also the most successful countries, is the United States.The United States attracts foreign investment and promulgates of a large number of specialized legal bill, they use strict review of national security to handle with the foreign investors into the U.S. market.China's foreign investment M & A is also increasing, and since 2002, China replaced the United States to become the world's largest capital-importing countries.Therefore, in-depth study of U.S. national security review of foreign M & A system will not only help Chinese enterprises to go out of the country to invest the United States ,but also do some favor to our country from the U.S. national security review of the rule of law, it develops and improves our standard mechanism to guard against the acquisition of foreign capital with to the negative effects and the harmness to national security.the first sector of this article introduces the U.S. national security review of foreign acquisitions ' history, focusing on the national security review process and the reasons for changing the rule of law of the United States on foreign mergers and acquisitions may involve the national security mechanism from the early discourage to 80's after the 20th century.the second part is an elaboration of the Foundation of the United States foreign merger and acquisition of national security review .the author thinks merchants'investment lancangensis change causes economic security risks of United States , so as to the United States national security review system of economic fundamentals; conservative Republican government based on the political security considerations is the political foundation of United States national security review; the United States Constitution,《the international emergency economic Powers Act》,《Anti-monopoly law》and other legal of the United States constitute national security review of the legal basis.the third part elaborates the United States foreign merger review system of national security in a more systematic way.These include: (1) the United States specially set a foreign investment m&a safety review mechanism—foreign investment committee, as well as Ad Hoc Committee on the u.s. - China economic security assessment Committee, which is designed to examine u.s. - China economic of the security issues;(2)object of national security review of foreign merger and acquisition . This object includes both foreigners and Americans.Review of foreigners to take the nationality of natural persons standards, control standards for the use of economic entities; the review of the Americans is whether the main study the inter-state trade in the United States in commercial activities, does not consider the nationality or control standards;(3)national security review of foreign M & A standards. United States law does not give the national security under the definition of a standard in order to give the president greater discretion, but listed in the national security review of a number of factors to be considered; (4)process foreign mergers and acquisitions of national security review .This program includes the declaration and agencies informed the trial and investigation, the President's decision, etc.The fourth part introduces our legal system should learn from the United States authorities, then build the national security review of foreign M & A system in line with China's national conditions.The specific content of the main system include:the development of special《national security review of foreign investment law》,set up foreign investment committee and the u.s -china Economic Security Committee, examine critically the main qualifications of foreign mergers and acquisitions,give the review bodies more discretion, the various factors should be taken into account as much as possible, provide the declaration and the first instance, the investigation, the state decided by the President, review and appeals etc.