Analysis Of Legal Practice On M&A Of Domestic Listed Companies In China

Since the end of last century，the development of economic globalization speed upthe flow of capital in the world，foreign M&A turn into an important means ofinvestment. At present，more than400of the world’s top500multinational companieshas invest to china by means of foreign investment.The entry of foreign capitalpromote the economic development of the host country，but also create negativeeffects. Along with the deepening of opening up and reform，in order to make full useof foreign investment in boosting economic develop，and avoid directing impact onthe domestic real economy，laws and regulations on the foreign M&A of China havegradually formed，but compared with the developed countries and regions，norms onChina foreign M&A develop later，a sound legal system has not formed yet，Some ofthe formed specifications，whose operability is not strong enough，can’t well link tothe actual development. For the active foreign M&A market，the specifications can’twell regulate on making full use of foreign capital，at the same time, to fully safeguardthe stable development of the domestic market.At the early stage of the M&A project，foreign investors will have differentconsiderations，for different choice of the type of M&A strategy. This paper analyzesthe typical cases of foreign M&A of listed companies arose in recent years，studying its M&A strategy and do some research related to the practice，which will act as areference、guidelines to practice，and give some suggestions on issues related to.The first part of the description involves in conceptions to define the foreign M&Aof domestic listed companies， clarify the nature of the acquisition of listedcompanies，as well as several common modes of M&A，In order to provide a basicunderstanding for concrete operation follows.The second part is from the level of legal practice，introduce common M&Astrategy by the presentation of the cases，do analysis and elaboration from the anglesof antitrust review，the state economic and security review and industrial policy.The third part is described on the basis of earlier statement，and draw lessons frompractice，completing regulations from aspects of national economic security review，antitrust review，industrial policy and legislation system on foreign M&A of listedcompanies.