National Interest In Cross-border Mergers And Acquisitions

With its astonishing economy growth and further integration with global economy, China has been built related systems in accordance with WTO agreement and encouraged its corporate champions to go global since the beginning of 21 century. In the past ten years, Chinese foreign direct investment has seen very fast growth. Its oversea mergers and acquisitions activities has arose worldwide attentions especially. In addition, recent years'global financial crisis has fueled rather than impaired Chinese companies' appetite on oversea companies and assets. However, the journey for Chinese companies to go global was not easy. Many of them, with state-owned background, were faced fierce scrutiny by target countries' national interest scrutiny system. In the meantime, facing the coming of world corporate champions, how to better cooperate with WTO system, protect national interest and build its own national interest scrutiny system has been widely discussed by all walks of life in China. This thesis aims to provide certain recommendations to the establishment of the scrutiny system in China and Chinese companies oversea M&A activities through a detailed observation on the concept of national interest from international political point of view, along with a statistic analysis on Chinese oversea mergers and acquisitions data in the past decade, a comparative examination on national interest scrutiny systems in America, Australia and Canada, and case studies on three failed cross-border mergers and acquisitions deals.