Study On Principle Of Voluntary Submittal Of Security Rexiew System Of United States

With the development of the world economy, global capital that flows acrosscountry become increasing strenuous,which causes transnational merger andacquisitions become one of the main forms of international investment.Manycounties,open doors,welcome foreign fund flow in, on the contrary, they also payedmore and more attention to the issue of national security in transnational merger andacquisitions.Therefore,a large number of countries established their own nationalsecurity review system of transnational merger and acquisitions(NSRSTMA) andmodify the national laws in order to pursue the pefection of NSRSTMA.The mostrepresentative in this respect, also the most successful countries,is the UnitedStates.The congress of United State expend the review scope of NSRSTMA throughthe Foreign Investment and National Security Act (FINSA) issued in2007.whichfurther improved the NSRSTMA.FINSA and Regulations Pertaining to Mergers，Acquisitions，and Takeovers by Foreign Persons,which come out later, consist thewhole NSRSTMA of Unite State.The principle of voluntarily submittal is a featured design in procedure part of NSRSTMA of Unite State,which have been taken asreference by several countries all over the world.Nowadays,with the carrying on of the basic state policy of reform andopening-up, transnational merger and acquisition activities has increased everydaywithin the territory.However,we have to admit that the national security review systemin China, compared to those of developed countries,is still at a preliminary stage. Inhence, there are manyed to be improved,especially in procedure.Deeplu reseachingthe lagislation in start procedure of the NSRSTMA of United State, can not onlyprovide a successful model for China as a reference,but also let us design our ownNSRSTMA according to Chinese actrual situation,improve Chinese NSRSTMA.Thisarticle just discuss the issues related to start procedure of NSRSTMA,in order to findthe most suitable procedure design for China.This article mainly devided into four chapters, each chapter has deeply stateddifferent issues related to starting procedure of NSRSTMA.Through researchingstarting procedure of NSRSTMA of United States and comparing it with that of ortherdeveloped countries,search the weakpoint in Chinese starting procedure of legislationof NSRSTMA,finally,give out the reasonally suggestions,Charpter1mainly introduces the legislative background ofNSRSTMA.Summarize the neccesity of the establishment of NSRSTMA by statingthe content and kinds of transnational merger and acquisitions and the interestsbetween them and security of country.Charpter2systematically elaborates and analyses the principle of voluntarilysubmittal system,and its legislative background, of NSRSTMA of United States.Thischarpter also introduces each segment of starting procedure of NSRSTMA,includingprinciple of voluntarily submittal, pre-review system, free withdrawal system,compulsory after-review system, declaration term,etc.Subsequently,this charpter alsoconducts a comprehensive analysis on superiority and feature of NSRSTMA ofUnited States.Charpter3breifly introduces starting procedure of NSRSTMA of Europeancountries and Japan and its influence to United States with horizontal comparasive analysis.Comparasive research how the diversity of national conditions anddiplomatic policies of different countries lead to their emulate of United States invaring degree.and find out rhe reason and tendency they choose the specific design.Charpter4analyses legislative situation and procedure design of NSRSTMA ofChina.Comparing with United States,take actural cases into consideration,find out theweakpoint of procedure legislation of NSRSTMA of China.At last, the author drawsthe conclusion about how to improve China’s NSRSTMA step by step.