Research On The U.S.National Security Review System Of Foreign M&A In The Post-Financial Crisis Era

After nearly a hundred years of evolution and development,The U.S.national security review system of foreign M&A,which has already formed a complete institutional system,guarantees national security in the United States while promoting the opening of foreign capital in the United States.In recent years,The U.S.National Security Review System of Foreign M&A gradually exposes its drawbacks: opaque decision-making mechanism,the expansion of the scope of the review,the growing period of review,influential political factor,lack of relief mechanism and so on.Meanwhile,Chinese enterprises' mergers and acquisitions in the US frequently encounter National Security Review.The Committee on Foreign Investment in the United States,hereinafter referred to as "CFIUS",will prohibit Chinese enterprises from buying and selling in the United States on the grounds of "endangering US national security" or " Merger and Acquisition controlled by the Chinese government ".US Security Review of Merger and Acquisition by Foreign Investors has become the biggest obstacle for Chinese enterprises to invest in the US.In December 2017,the Trump administration put forward the "US priority" national security strategy,which brings economic security and network security into the category of national security,and clearly points out that the function of CFIUS is to be strengthened to flourish the American economy and promote international influence while ensuring the security of the country.At the same time,US Congressmen put forward the "Foreign Investment Risk Review Modernization Act of 2017" to reform the security review system of foreign mergers and acquisitions in the US,which expands and strengthens the functions of CFIUS,increase the considerations of national security,expand the scope of safety review and so on.Reform of US Security Review of Merger and Acquisition by Foreign Investors will have a great impact on Chinese Enterprises.In the past,because of security reviews in the United States,Chinese enterprises' Merger and Acquisition transactions are frequently blocked,and Chinese enterprises must sum up lessons in their failure.The investment field of Chinese enterprises involving the sensitive industry,state owned enterprise or an enterprise controlled by the Chinese government,impacting on American military activities,etc may become reasons being identified by CFIUS as a threat to national security.Only grasping the development of US foreign mergers and acquisitions security review,will the Chinese government and Chinese enterprises be able to identify strategies for safety review.