| Cross-border M & A, the New Form of Investment Toward the OutsideWorld, is Also One of the Most Important Forms of Foreign Direct Investment(FDI). With the Progress of Globalization Becoming Faster and Faster andChinese Enterprises Becoming Larger and Larger, More and More EnterprisesHave Begun to Implement Cross-border M & A as the New Strategy of FDI andInternational Market Exploration. After Over 20 Years of Rapid EconomicDevelopment and Market-oriented Transform, Some Conditions ofCross-border M & A Have Been Cultivated in China Now. It is the Trend forChinese Enterprises to Promote International Strategy by Cross-border M & A.But at Present, This Practice Still Shows Evident Characteristics of Trial andError. Problems Lie in Rigid Regulations and Lagging-behind Financial Reformin the Macro Respect, and in Insufficient Strategic Planning as well as M & AExperience in the Micro Respect. At the Present Starting Stage ofCross-border M & A Initiated by Individual Enterprises, the Cases areDetermined and Implemented by Them Independently. At This Stage, M & ADecision are Lacking of Strategic Concerns on the Micro Level. And There isnot Enough Research on the Status of Corporate M & A in both NationalEconomic Development Strategy and Corporate Development Strategy, onHow to Avoid the Risks and Develop Healthily, etc. So the Topic Selected is ofGreat Realistic Importance.This Article Includes 5 Parts. The First Part Introduces that ChineseCorporate Cross-border M & A is Developing Rapidly, but Many Problems areExposed in the Process of "Going Outside the Country", so Study on ChineseCorporate Cross-border M & A Strategies is of Active Realistic Significance;the Second Part Describes the Current Status and Characteristics of ChineseCorporate Cross-border M & A, Including the Main Causes, Natures, MainBodies, Forms, Involving Industries, Finance Channels, etc.;in the Third Part,the Key Problems Existing in Corporate Cross-border M & A Process Homeand Abroad on both Macro and Micro Levels are Summed up;in the FourthPart, Chinese Corporate Cross-border M & A Strategies are Put Forward onBasis of Comparative Analysis Between Domestic and International CorporateCross-border M & A Experience. At the Macro Level, the Government ShouldEstablish and Improve Laws and Regulations Related to Cross-border M & A,Provide Legal and Financial Services, and Strengthen Macro Support;at theMicro Level, Chinese Enterprises Should Concentrate on Cultivate andPromote Core Competitiveness, Study the Successful Experience ofCross-border M & A Home and Abroad, and Explore a Proper Path of M & A;and in the Final Part, the Conclusion is Drawn from the Former Research thatChinese Enterprises are in the Trend of Cross-border M & A to Make Progressin Globalization. Both Chinese Government and Enterprises Should Explorethe M & A Route in Accordance With Chinese Situation Actively by Combiningthe Actual Situation and Successful Experience Home and Abroad. |
