On Foreign Mergers And Acquisitions, Antitrust Law System

Foreign Direct Investment has two basic methods in current fields of investment: Incorporation and M & A. Cross-border M & A(Refer to as the foreign capital M & A according to the host country) springs up in the late 80s. Since 1990's of the 20th century, with the acceleration of globalization, Cross-Border M & A has become the main method of International Direct Investment. With China's entering into WTO and the opening of it's market, China has become the hotspot of it. However, foreign capital M & A have both advantages and disadvantages: on one hand, to promote scale economy of the enterprises and strengthen the market competitiveness; on the other hand, to take on a trend to monopoly spontaneously and inevitably, which will injure the public interests. As a result, the developed market economic country regard the anti-trust as the main task to circumscribe the foreign capital M & A. Many countries issued Anti-trust Law and have mature merger system. China's legislation on M & A is not healthy in the face of foreign capital M & A like a rising wind and scudding clouds, Anti-trust Law which is regarded as the core legislation to intervene the economy is still not promulgated. To build the Anti-trust Law to control foreign capital M & A is a very urgent and important question. Based on the experience of some foreign countries' legislation and their practice of justice, this article tries to put up some suggestions to construct and perfect our anti-trust laws.This article can be divided into several parts as follows:Chapter 1 analyses several basic definitions relating to foreign capital M & A, such as foreign capital M & A, monopolization and the Anti-trust of foreign capital M & A.Chapter 2 discusses the necessity of anti-trust control through the analysis of the tendency of monopolization.Chapter 3 clarifies the basic principles of anti-trust control of M & A, including the principle of national treatment and the principle of protecting state interest, then further discusses the relationship between them.Chapter 4 introduces the main content of anti-trust control, which include the substantive institutions and the procedural institutions.Chapter 5 presents the suggestions on how to perfect the anti-trust system of M & A. it is mainly discussed from two aspects: set up of the administration of anti-monopolization and the legal responsibilities of M & A.