Under The Framework Of The Wto, Foreign Mergers And Acquisitions Of State-owned Enterprises

During the past period of time,the problem that stocks of national enterprises were sold to foreign capital enterprises has been all along a forbidden zone which cannot be overstepped in ideological fields. For the reason of dispute-avoidance, most of the national enterprises have chosen roundabout strategies. They took the form of raulti-factorized stocks inside the enterprise or dilutedly multi-factorized stocks in enterprise reformation. Actually, such kind of reformations can neither solve the problem of national assets' lapse, nor meet the requirement of large-sized and mid-sized national enterprise reformation.Under the frame of WTO, multinationals are acting on new-round strategical resource recombination in the global world, which offers an unwonted chance for us to import high-quality foreign capital. In this article, the article mainly analyzed the existing problems in the national enterprises' reformation of our country with the start analysis to the present situation of the national enterprises,make clear the difficulties required to solve,and analyzed that it was necessary and doable to purchase national enterprises with foreign capital.After that, with the example that Bovina Company of Germany purchased Yangtze Icebox Factory, the article analyzed the advantages and disadvantages that foreign capital purchased the national enterprises under the frame of WTO. We should recognize the features and developing trend of multinational purchase , analyze the effect it made on our economy, make out reasonable measures, actively and steadily make full use of the purchase. At the end of the article, the author also gave out some countermeasures concerned.Generally speaking, to use foreign capital purchase the national enterprises is helpful to improve the shares frame of our national enterprises, reform the enterprises' management structure, upgrade key competitive of our enterprise. However, there are still many problems existing. Purchase is a complex and systemic project,concerned with transfer of shares, buy, financing and etc. fields, and agencies, investment banks as well. In addition, market venture and competition both exist in revenue, employment, person with high quality, and divided work we need to take adjustment in rules, laws and industrial leading so as to put up favorable outside environment.The framework of this article is as follows:the first part is introduction;the second part mainly tells that it is necessary and doable to use foreign capital to purchase national enterprises;the third part analyzes the advantages and disadvantages brought by foreign capital' s purchase national enterprises under the framework of WTO; the fourth part is countermeasures and suggestions to the problems existing in the purchase;the last part is conclusion.There are mainly three innovations in this article: The frist is that we study the advantages and disadvantages follwing with the purchase of national enterprises with foreign capital in a whole view by means of demonstration for the first time; the second is that we establish and carry out different purchase measures in different fields and different countries, in order to realize the biggest benefit of our national enterprises; the third is that we analyze the incomplete points in laws system, and put forward countermeasures and suggestions.