On The Perfection Of Legal System Of Foreign Acquisitions Of Listed Companies In China

After China joining WTO, the foreign capital will more frequently use the way that is popular on international by means of merger & acquisition to set up the enterprise in our country, China will appear a new high tide using foreign capital .In order to greet this new high tide, domestic should speed up to formulate the laws, regulations and the related policies of M&A, and to provide the legal frame in order to solve the problem which transnational M&A possibly meets to. With the cross-border merger & acquisition (hereinafter, CBMA) becoming increasingly outstanding in the international direct investment, the most countries value the legislatively CBMA more and more, and pass the sound law to absorb more foreign capital and restrict the disadvantageous influence. With China's entry into WTO, FMA plays a more and more important role in the foreign investment to China. And the current listed company has become the focus of the foreign capital because of its special advantages. But our foreign M&A law still need to improve, this article will launch a study on legal system of foreign M&A to China's listed company. To use the foreign capital effectively ,the law-making is the key .Therefore, we still need to pay attention to the special problems concerned with the listed company M&A. ,In this way ,we can build the really valuable system to rule the FMA to China's listed companies.Therefore, the thesis basis view above, choose this starting point, thesis tries to make a key study on legal system of China's listed company for improve and complete it. The thesis is composed of four parts. Part one with the general theory of foreign capital merger & acquisition. Mainly I make new understanding of the definitions of foreign capital, merger & acquisition foreign capital merger & acquisition and analyze the legal characteristics of merger & acquisition, foreign capital M&A and foreign capital merger and acquisition of the list companies. Makes an analysis of way and agent of China's listed companies of foreign capital merger & acquisition and conclude listed companies are the first choice of foreign capital. Part two discusses our country's legislation survey and the main problems of foreign capital merger and acquisition of the list companies, lists the current legislation frame of our country's foreign capital merger&acquisition of listed companies. It points out the main problemsthat exist in current Chinese foreign capital merger&acquisition of listed companies. Part three mainly studies the practice of foreign capital merger&acquisition throughout the world. It makes a comparative study of the systems and practice of foreign capital merger and acquisition of the list companies mainly in two developed countries , Part four launches study separately in view of three problems and puts forward my proposals and the solutions.The appearance of foreign capital merger & acquisition of listed companies is completely new in China's utility of FDI and China's capital market. The problems it involves cannot be discussed completely in this thesis. In contemporary China, The case in which foreign capital merger &acquisition of a listed company is by strategic participation. But in the world capital market, transnational merger & acquisition is a natural tendency in the capital market. In this situation, it is very essential to speed up the advancement of the legislation of our country's foreign capital merger & acquisition of listed companies and thus toestablish legal system that conforms to the international convention and suits the Chinese national condition as soon as possibly.