The Performance Research Of Which Foreign Investors Merge China Listed Manufacturing Companies

China's sustained economic growth and orderly acquisition of open industry will promote the expansion of foreign capital. In the global industrial restructuring and shift in developed Western countries, traditional industries such as manufacturing have to transfer to China, mergers and acquisitions of existing enterprises, multinational companies quick access to our market approach.November 2001 MOFTEC and the Securities Regulatory Commission jointly issued a "transfer of listed companies to foreign-owned shares and legal person shares of the relevant issues," the abolition of direct foreign investment policy limits the acquisition of listed companies. November 2002, the CSRC, the Ministry of Finance, the State Economic and Trade Commission issued "on the transfer of listed companies to foreign-owned shares and legal person shares of the relevant issues," which further exacerbated the enthusiasm of foreign acquisitions of listed companies. Followed by the relevant departments have issued a "restructuring of state-owned enterprises using foreign capital Interim Provisions" and "foreign investors Interim Provisions on Acquisition of Domestic Enterprises" and "Acquisition of Domestic Enterprises by Foreign Investors Equity on Tax Issues," 2006 "on foreign investment by the provisions of the domestic enterprise, "" foreign investment "Eleventh Five-Year" plan ", and gradually form of listed companies to encourage foreign M & A policy system. Foreign M & A momentum of China's leading enterprises in the manufacturing industry significantly increased. September 8, 2008 from the implementation of the "Acquisition of Domestic Enterprises by Foreign Investors requirement" (hereinafter referred to as "Regulations"), to the use of foreign capital in China has long been a "gathering area" of the manufacturing sector has brought no small vibration, much the concern of the industry and experts. Taking into account the domestic manufacturing industry by foreign capital to undertake administrative and legal intervention is prevailing international practice of States, the industry "provides that" the implementation of the more positively. Ministry of Commerce, March 7, 2011 announced "the Ministry of Commerce to implement a foreign investor acquires a domestic enterprise security review system of the Provisional Regulations on the matter," a clear, national security has been caused or may cause significant impact on foreign mergers and acquisitions, the parties may terminate the Ministry of Commerce transaction, or transfer the relevant shares, assets or other measures to eliminate the impact on national security. In recent years, foreign investment has begun to make significant inroads into large-scale manufacturing in China, mergers and acquisitions China's construction machinery industry focus straight, electrical industry, the backbone of business and other fields, leading enterprises. Therefore, the manufacturing sector by foreign capital in China to study the performance of listed companies in order to correctly understand the economic effects of foreign mergers and acquisitions industry, investors, businesses and relevant government departments to correct, balanced view on foreign mergers and acquisitions provide a reference, it is very necessary. This paper manufacturing in China by foreign capital to study the performance of listed companies has great theoretical significance, will enrich the foreign mergers and acquisitions on the performance of the domestic research system.