| In recent years, the share of mergers and acquisitions by foreign investors in China is on the rise. These mergers and acquisitions touch upon a wide range of fields and target many industry leading enterprises. The issue of national security in the process of mergers and acquisitions by foreign investors aroused widespread concern in the community. The "anti-monopoly law" passed in 2007 involved the phrase of "national security" in the legislation for the first time. However, it didn't provide specific provisions regarding the standard of review. In the entire national security review of mergers and acquisitions by foreign investors, the establishment of this standard is undoubtedly the most important thing since it is not only the reason to start the process but also the factor to determine. Because of the openness of "national security", it becomes more difficult to formulate.Starting with "national security", this article analyzes its content and characteristics. It also summarizes and studies standards of national security review of mergers and acquisitions by foreign investors in the United States, Canada and Australia. On the basis of these, it discusses the standard of china's national security review of mergers and acquisitions by foreign investors."National security" includes three interconnected components, namely, "national defense security", "economic security" and "cultural security". Different countries have different emphasis: the United States focuses on ensuring the country's political sovereignty as well as scientific and technological advantages; Canada and Australia focus on ensuring the country's economic sovereignty as well as resource advantages. Therefore, this article divides the standard of review into the standard of review of national defense security, economic security and cultural security based on the specific circumstances of our country and with the aim of ensuring the national sovereignty and bring the comparative advantage into full play. |
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