Merger and purchase is a superior capital business activity under the condition of market economy for enterprises. This activity has been a major means to expand and develop for the enterprises in developed countries for long time. In recent years, the activity of merger and purchase is carried out more and more in China year by year. After China's entry into the WTO, our enterprises must comply with the WTO regulations when competing with foreign enterprises. In order to expand the scale of their enterprises rapidly and defeat other international rivals to gain the more market shares, those foreign enterprises grab the markets in China by means of merger and purchase. Therefore merger and purchase are gradually rising and developing rapidly, which is the essential product during carrying out economy system reform, especially in deepening state-owned enterprises reforms.However China is in the period of transition from old economy system to new one. Market economy is still in the building stage and the system of state-owned enterprise's merger and purchase is still immature. There are some problems, such as merger and purchase are carried out with too many administration intervenes in different lines of business, the loss of state-owned assets, no real modern enterprises system established and no a set of sophisticated law system, etc. All those are barricades for enterprises development and also restraints in the enterprises jointing with international and merging in the international competition rapidly.Based on the reality of internal and external environment of state-owned enterprises in China, while conducting merger and purchase in current stage, the author tries to demonstrate the mechanisms of behavior agent, contents (motivation, strategy, means and risk) and market, etc through utilizing the theory of economy and enterprises merger and purchase, to compare and analyze the present situation and problems existing in the real cases while the activity of merger and purchase occurs, and to provide some policy suggestions and countermeasures on state-owned enterprises merger and purchase. |