The Study On Review System Of Cross-border Mergers & Acquisitions

With the deepening of economic globalization and China's opening policy, cross-border mergers and acquisitions (cross-border M&A) has become increasingly active and makes extensive and far-reaching impacts on both economic and social development of China. Comparing with the more advanced and complete review system in developed countries, the review system of cross-border M&A in China is unconsolidated and lower-rank, which also lacks of operability. A complete review system of cross-border M&A can attract foreign investments while preventing and reducing the negative impacts on competition area and industrial security, economic security and even national defense security. The study on the review of cross-border M&A will do great help to promote the activities of cross-border M&A in lawful and reasonable areas and promote the healthy development of our country's economy.By using the methods of comparing and analyzing, as well as basing on the clarification of basic concepts of cross-border M&A, this paper makes full discussion and analysis on review system of M&A in representative foreign countries as a reference, analyzes our current situation and limitation of cross-border M&A review system, then puts forward some useful suggestions on the creative formulation of China's cross-border M&A review system.This dissertation is divided into four chapters as follows:Chapter One introduces the fundamental problems on review system of cross-border M&A. Firstly, it states the meaning, characteristics, nature and legislative motivation of cross-border M&A as well as the effects on host countries brought by this trading behavior, then it explains the connotation, jurisprudence basis and review levels of the cross-border M&A review system.Chapter Two elaborates legislative practice and system design of the review system of cross-border M&A in some representative countries in America, Europe and Asia, comparing and analyzing their characteristics and differences, which also provides useful and valuable references for establishing and improving our country's cross-border M&A review system.Chapter Three analyzes cross-border M&A review system in China, expounding the present status and deficiency respectively.Chapter Four discusses the reconstruction of cross-border M&A review system in China. By using foreign countries'legislation experience as a reference, this paper proposes some designs in both aspects of entity rules and procedure, and brings forward some policy suggestions as well as a basic framework of legislative mode.