Research On The National Security Review System Of Transnational Mergers And Acquisitions

Cross-border M&A has become the main way of capital investment and export between countries.For a long time,because of the backwardness of China's economic development level,the source of foreign capital in China is foreign direct investment in China.At present,the economic situation in the international market is changing,the market situation in China is improving,and the competitiveness of enterprises is gradually increasing.In the tide of international cross-border mergers and acquisitions,more and more enterprises also choose to go out and make full use of domestic and foreign markets.Use your own strengths to expand your share.In the tide of cross-border mergers and acquisitions,companies have used their capital advantages to acquire high-quality M&A targets from other countries.Many countries have seen that their large enterprises have been acquired by foreign capital,and they have set up some thresholds to protect the healthy development of their industries.More and more cross-border mergers and acquisitions have ended abortion because they have not passed national security review.Under this circumstance,the relationship between cross-border mergers and acquisitions and national economic security has become the focus of attention.With the increasingly close links among countries in the fields of production,trade and finance,more and more enterprises choose to make direct investment and mergers and acquisitions in other countries under the motive of maximizing their own interests.Since the 21 st century,mergers and acquisitions in the world have become more and more active,both the number of mergers and acquisitions and the amount of mergers and acquisitions have shown explosive growth.It can be said that global integration has become the mainstream of today's economic development.Transnational mergers and acquisitions are indispensable to promote the process of world economic integration and to achieve economic globalization as far as possible.At the same time,as the second largest capital importer in the world,foreign investment in China shows an increasing trend every year.Since China's entry into WTO,many national brands and enterprises have been pocketed by foreign capital and become victims of international competition,which has caused serious harm and impact on China's industrial security.Therefore,it is very urgent to explore the establishment of foreign capital security review system in our country to cultivate and support our industrial security and vulnerable industries.On the one hand,through the analysis of foreign security review system in the United States and Germany,in order to provide more guidance for Chinese enterprises to go out;on the other hand,through the analysis of mature security review system in developed countries,this paper explores the legislative basis of foreign security review system to provide some suggestions and references for the establishment of foreign security review system.In 2019,the Foreign Investment Law has passed the vote of the National People's Congress,which innovatively proposed that China should establish a foreign investment security review system.This paper,based on the analysis of the foreign investment security review system in the United States,provides reference for the establishment of relevant domestic systems.