Legislative Regulation In Anti-monopoly To Foreign Investors' Merger And Acquisition

In recent years, it is not uncommon that foreign investors merger domestic enterprises, which the contradictions and conflicts become the focus of attention. Foreign investors'merger and acquisition have two sides. It brings promotions for China's economic development, as well as some negative effects, typically, the monopoly. The monopoly will affect our national industries, and even control the economic lifeline of our country and affect the security national economy. China put too much emphasis on how to attract more foreign investment since the implementation of the reform and opening up policy, which ignore the problem about market competition brought by foreign investors'merger and acquisition in new situation. Competition and imperfect legislation of foreign investors'merger and acquisition bring a series of problems in practice, which restricted the activities of the healthy development of China's economy. Now there is a trend of international merger and acquisition impact on China. So,it is an important topic in theoretical research on how to overcome the bad influence of existing competitive system,particularly the defects of anti-monopoly system and perfect them."Foreign investors'merger and acquisition" is a familiar term in our life, but its legal meaning complexity. There are two objectives of foreign investors'merger and acquisition, one is foreign investors, the other is enterprises merged by foreign investors.The definition of the objectives of foreign investors'merger and acquisition is too narrow, which makes a disadvantage to protecting our economic security and even national security. It is a significant for distinction between benign and malignant foreign investment and achieve the extraterritorial application of antitrust to redefine the concept of foreign investors'merger and acquisition. Legislation should follow the situation and make responses to the influence of foreign investors'merger and acquisition quickly. China's foreign investors'merger and acquisition came through a blank stage to flourish development, now it has been in the right track. Especially after the implementation of the Anti-monopoly law, the regulation in anti-monopoly to foreign investors' merger and acquisition came into a lawful time, but foreign investors' merger and acquisition is too protean to be regulated only by the Anti-monopoly law.Competition culture is not unique legal culture in China, while developed countries have a long history in this area, especially the United States and the European Union. We should use their advanced experience on foreign investors' merger and acquisition for reference. From the implementation of the Anti-monopoly law to the end of June 2009, the Ministry of Commerce received 58 business concentration reported,46 have been concluded,43 of which unconditional approval,2 of which conditional approval, 1 of which against. Thus, mergers and acquisitions have become the norm in China's economic development, and the review of anti-monopoly also will become increasingly critical.But the legislation of regulation in anti-monopoly to foreign investors'merger and acquisition has been lagged far behind the development of foreign investors' Merger and Acquisition in China and to be perfected.In view of the status of inadequate legislation and the inconsistent of enforcement rules, the author presented recommendations of legislation and law enforcement in the text. It is proposed in the legislation that "single-track system" should be adopted as legislative model to establish a harmonized system of foreign investors'merger and acquisition from the different angles and the level of regulation.To regulate the undesirable interference made by administrative authority to foreign investors' merger and acquisition, to improve the decisions of enforcer of Anti-monopoly law, and uniform the existing Antitrust laws and regulations to set up rules of procedure on Legislative Regulation in anti-monopoly to foreign investors' merger and acquisition. It is proposed in law enforcement that to make the anti-monopoly law enforcement agencies transparency, strict the selection of anti-monopoly law enforcement officers to ensure the effective implementation of Anti-monopoly law. The national security review should be enacted another legislation to regulate and establish another agency to take charge. Detailed Rules for Implementation of Anti-monopoly law should be constituted and we should pay attention to the detailed rules of procedure during the constitution to establish the systematic anti-monopoly law enforcement standard. Hope to benefit the legislative regulation in anti-monopoly to foreign investors' merger and acquisition.