Access To Foreign Mergers And Acquisitions In China Legal System

Since 1990's, foreign capital's entering China by Merger and Acquisition has been an important trend of Foreign Direct Investment in China, which changed the situation of before. Accordingly, relevant legal system has been built up and developed gradually. Regulating foreign investors by Laws and regulations with regard to Foreign Investor's Merger and Acquisition (FIMA) on the stage of entry is the first measure taken by the government. Its importance is out of question. These years, FIMA happened more and more in China; especially many capital corporations in a lot of important industry are mergered by foreign investors, which incurred public nervous and attention. Here comes the question: Does FIMA damage our country's economic safety?Using foreign capital is always an important part of our policy, but China is a developing country which still has some weak industries. We have to guide the direction of foreign capital in accordance with our economic goal in front of the strong trend of FIMA. The market access rules are very useful and important to regulate FIMA. How to regulate FIMA with the market access rules according to our country's current situation is the main issue of this thesis.This thesis is divided into four parts to study the Chinese market access system of FIMA. Following is the basic form:The first part is the common theory of market access system of FIMA. First, it gives a clear definition of market access system, pointing out that it is of great importance to the market order. Then it analyses the necessity of existence of the market access system of FIMA. Because of its target, this system is very important to the national economic security especially in developing counties. In this part, it mainly discusses the special effect to the national economy of FIMA comparing with another form of Foreign Direct Investment—Greenfield Investment.The second part is the analysis of the foreign legislation situation of the market access system of FIMA and its international developing trend. Firstly, it points out three main characters of the relevant systems in developed countries: restricting FIMA in important industries which related to national economic security while making sure the freedom of investment market; anti-trust law being the core of the regulation of FIMA; detail regulations on the disclosure of FIMA of listed companies. Secondly, it points out two main characters of relevant system of developing countries: restricting the FIMA industries; strictly examination and approval rules. At last, it discusses the international developing trend of relevant system.In the third part, it analyzes the current situation of market access system of FIMA in China and points out the problems. First of all, it analyzes the whole situation of relevant system under the international treaties and WTO. Then, it analyzes the details of Chinese relevant system in accordance with relevant rules and regulations in several aspects. Lastly, it points out problems in current system including the imperfection of the anti-trust regulation in this systems, ext.In the fourth part, it provides some suggestions to perfect the Chinese market access system of FIMA including construction of an exhaustive examination and approval system of FIMA on the basis of the analysis of foreign relevant rules of part two and the weakness pointed out in part three.