Study On The New Regulations Of The United States: National Security Review On Foreign Mergers And Acquisitions

Along with the globality economy and the development of China,more and more Chinese enterprises choose to invest in other countries through the manner of mergers and acquisitions(M&A).In these countries,America is an important destination.But the mergers and acquisitions of Chinese enterprises in the United States are always blocked off by its national security review.After the 9.11,America put more energy on national security and some people suggested to modify the national security system.Against this background,the congress issued Foreign Investment and National Security Act in 2007 (FINSA),which amended the "Exon-Florio Provision".In 2008,treasury issued Regulations Pertaining to Mergers,Acquisitions,and Takeovers by Foreign Persons, which was the implementary regulation of the FINSA.These two regulations,along with other Executive Orders,will be the dominating foundation of national security review on foreign mergers and acquisitions in the United States.Now in Chinese,foreign mergers and acquisitions are becoming more and more frequent,but our national security system is not complete yet.Therefore,we should learn the experience of the United States to consummate our national security system,in order to stick up our national security more effectively.