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Legislative Study Of The Foreign Acquisition Of Domestic Power Enterprises

Posted on:2009-03-29Degree:MasterType:Thesis
Country:ChinaCandidate:Y ChenFull Text:PDF
GTID:2206360248450993Subject:International Law
Abstract/Summary:PDF Full Text Request
Power industry plays an important role in national economy. Absorbing foreign funds is a long-term policy to accelerate power industry's development. Since the reform of power industry system in 2002, cross-border M&A in power industry is increasing rapidly, M&A has becoming an important way in the field of entering china electricity market. Because of having no cross-border M&A law about power industry and M&A have an important effort on power industry, it is urgent to analyze the effect of M&A on power industry and establish a reasonable government legislation system.There are five parts totally in this thesis, which mainly discuss law problems of M&A in our nation's power industry. Through exposing the motives of legislation on M&A, studying America's, the Great Britain's, Australian's and Singapore's legislation on M&A on electric power industry as well as some cases' analysis, this thesis then raises relative suggestions on how to complete our country's M&A law system. The aim of this action is to help our country to find her right position in M&A, and we should try our best to protect the economic interests in the international trade of M&A.The first part of the thesis mainly introduces the basic legislations in the field of power industry, explains the meanings of M&A(including explanations both in and abroad), the meaning of foreign fund, the meaning of foreign fund's M&A and the ways of M&A.The second part uses the theory of motives of legislation on M&A, points out the five motives of M&A in a view of economic way, they are: pursuing grand economic benefit, achieving coordinative response, the motive of market, the motive of gaining profit and the motive of developing global strategy. Then the essay explains why M&A now become the important way to absorbing foreign funds through the deeply analysis of both parts' motives of M&A on power industry. At the same time, this thesis tells us the three stages how power industry use foreign capital while it also does an practical analysis in Power Industry field, then point out the characters and risks of M&A on power industry. The risks of M&A on power industry can be divided into two main parts: common risks and special risks. Common risks include system risk, society risk and legislation risk while the investor's risk and the inner country's risk are added in special risks.The third part of the thesis mainly expresses the relevant directives and regulations on M&A of our nation's enterprises on the basis of the review of the history of its legislation, the background of M&A lawmaking. This thesis mainly introduces specifically《Corporation Law》,《Securities Law》,《Industry Direction Catalogue for the entry of Foreign Capital》,《Legislation on Directing the Foreign Fund Investment》,《Temporary Rules on Foreign Fund's Investment of Inner Enterprises》announced in 2003,《Temporary Rules on Foreign Fund's Investment of Inner Enterprises》announced in August.2006, as well as how to operate the legislations referring to M&A under the proper operation of WTO. A case of M&A also be used in the thesis to strength the points the article referred before, and in this case, our country express our own ideas. In the light of the directives, regulations and the case, we can learn that the traits of the legislation and draw a conclusion that our country's legislation on M&A still has some defects.America's, the Great Britain's, Australian's and Singapore's procedures, means, laws and regulations on M&A in power industry are explained specifically in part four: Such as the three verifying steps on M&A in American power industry, the four main parts on M&A in Singapore's power industry. Then we can find that there are still some defects in our country's M&A legislation and policy system.Finally, this thesis points out suggestions on M&A's relative legislations in our country's power industry on the basis of analyzing the relative legislations in our country's M&A. In this part, the writer designs the mode of legislations on M&A, the system of ruling and supervision in the field of power industry. This part is divided into several aspects: Perfecting the examining system, perfecting the rules of anti-monopolization, perfecting the rules of keeping our country's economic safe and rewrite the Industry Direction Catalogue for the entry of Foreign Capital. In this way, the writer opposes good suggestions for supervising the M&A in power industry under different structures of electricity resources. Our country's M&A in power industry will develop rapidly if we follow such striations offered before and we also can face the dispute in M&A in a calm mood.The thesis designs the ruling and supervising systems of M&A in our country and announces to strength the construction of legislation, ownership of energy sources and market environment through analyzing M&A in our country's power industry, analyzing the motives of M&A .so, this essay has theories meanings as well as has practical and policy-direction meanings.Antithesis-analyze, chart-analyze, and case-analyze are combined together used in this essay to demonstrate the theme of this thesis.
Keywords/Search Tags:Foreign Capital, Merger and Acquisition, Power Industry, Legislation, Enlighten
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