Research On The Development Of Cross-border M&A Of China's Private Enterprises Based On The Strategy Of "The Belt And Road"

Over the last few years,private enterprises in China have gradually developed into a major force in Chinese enterprises' cross-border mergers and acquisitions(M&A).With the expanding scale of such activities,private enterprises have made great contribution to the expansion of market for Chinese enterprises,the integration and utilization of foreign resources and the development of China's foreign economy and trade.In the meantime,the “Belt and Road” initiative of China has been continuously promoting Chinese private enterprises' “going global” for improvement of enterprises' core competitiveness and fitting into the tide of globalized operation and management in a timely manner.However,there was no denying that in the process of globalization,the cross-border M&A of Chinese private enterprises still had room for further improvement.This paper discovers problems in cross-border mergers and acquisitions(M&A)of Chinese private enterprises,such as a lack of ideal investment environment,clear strategic objectives,advanced experiences of cross-border M&A,effective financing channels,and professionals in this field;as well as the weak integration capabilities after the completion of cross-border M&A and the increasing irrational cross-border M&A by analyzing the opportunities and challenges faced by Chinese private enterprises in cross-border M&A as well as their advantages and disadvantages and the current situation of cross-border M&A of private enterprises.By means of literature research,descriptive study and comparative analysis as well as drawing on the experience in successful cases of cross-border M&A,this paper proposes that private enterprises should plan international routes from the perspective of long-term goals in cross-border M&A,clarify the enterprises' strategic objectives,learn and grasp the M&A information in detail,strive to expand their financing channels,establish a good image and most importantly,improve the enterprises' integration ability after M&A.