我国企业在外资购并中的优势

跨国购并是上世纪九十年代以来国际直接投资高速增长的最主要方式,约占全球对外直接投资额的63.8％。目前外资收购中国企业国有股和法人股股权的法律障碍不复存在,各界对外资购并的期望都很高,希望藉此吸引更多的国际资本,引进国外先进的技术和管理经验。但外资购并本质上是受资本的逐利本能驱使的,只有优势行业和优势企业才具备吸引外资的基础。目前外资瞄准我国的优势领域有:     

购并式外国直接投资在我国的趋势和影响

亚洲金融危机之后,欧美跨国公司调整全球竞争战略,通过购并大举进入东亚市场。而东亚国家资产的大幅缩水,也吸引了跨国购并。我国国有经济的重组也为外资购并提供了机遇。欧美跨国公司大量收购国内企业,对国内经济有多方面的影响,从而对政策制定提出了挑战。     

外资并购春潮涌动

新世纪第一春,"2001《财富》全球论坛"在香港隆重开幕。江泽民主席发表主旨演讲指出,中国将积极探索采用收购、兼并、投资基金和证券投资等多种方式利用外资,提高利用外资的质量。在此之前,中国证监会主席周小川和外经贸部部长石广生均公开提出,加快制定鼓励外商参与中国企业改造和发展的政策措施,支持和促进外商采取购并等多种方式参与中国国有企业的改组改造。可见,通过跨国并购的方式吸引外资将成为新世纪中国利用外资战略调整的核心内容。跨国投资青睐并购80年代中期以来,特别是进入90年     

外资并购春潮涌动

新世纪第一春,"2001《财富》全球论坛"在香港隆重开幕。江泽民主席发表主旨演讲指出,中国将积极探索采用收购、兼并、投资基金和证券投资等多种方式利用外资,提高利用外资的质量。在此之前,中国证监会主席周小川和外经贸部部长石广生均公开提出,加快制定鼓励外商参与中国企业改造和发展的政策措施,支持和促进外商采取购并等多种方式参与中国国有企业的改组改造。可见,通过跨国并购的方式吸引外资将成为新世纪中国利用外资战略调整的核心内容。跨国投资青睐并购80年代中期以来,特别是进入90年     

对境外企业A股上市的若干思考

A股市场对境外企业的开放是我国股票市场走向国际化的重要一步。已经有外资控股企业在A股上市。不少在中国有业务的大型境外企业纷纷表示对A股上市的意愿。论证表明：境外企业A股上市可以优化A股上市公司的结构,提升上市公司整体素质、带动我国上市企业的技术创新和国内市场繁荣、促使我国发展更独立的资本市场中介机构,提高市场有效性、提高我国资本市场的国际化,加快国内证券市场的国际化进程。     

美国证券市场反向收购流程详解

本文实例分析了美国反向收购流程及其对我国企业境外上市的影响,以期对我国企业选择适当的上市方式有所借鉴.     

1999～2012年我国民营企业境外上市的总结与未来展望

1999～2012年中国民营企业境外上市展现出两方面的特点：境外上市企业的绝对数量逐渐增多,但呈现出波浪式发展的态势;境外上市地点主要集中于香港地区、美国和新加坡等交易所,但是体现出逐步扩展的趋势。民营企业境外上市绝对数量的增加以我国经济特别是私营经济的快速发展为基础;民营企业境外上市的发展呈现出波浪式发展态势主要与境内外融资市场的状况及法律规制相关;外资PE、VC是推动民营企业境外上市的主要力量;民营企业境外上市地点集中主要与各交易所上市交易规则及行业估值的差异有关;民营企业境外上市地点的分散与企业的国际化有关。预测在未来,民营企业境外上市的绝对数量会随着我国经济的发展而增加,而上市地点在集中的前提下会进一步扩展。     

中国股票市场吸引外资的几个问题

中国股票市场吸引外资的几个问题孙健中，吕益民以＇９５年８月发生的日资对＂北旅＂法人股的收购和美资对＂赣江铃＂Ｂ股的收购为标志，首开了我国企业利用国内股市直接吸引外资的先河，意味着中国证券市场正在走向国际化。众多外资看好中国的股市和上市公司，将进一步加...     

英利绿色能源收购天威英利:境外上市之路

光伏行业巨头英利绿色能源实现境外上市,是我国光伏企业海外资本运作的大事件。本文介绍了英利绿色能源收购天威英利并上市的过程,展示了上市完成后的市场反应,还分析了我国企业境外上市的战略风险。对于本案例,本文认为收购本身是成功的,而就英利集团来说,境外上市的选择却不是成功的。     

外商利用中国概念股牟取高额利润 我国外资政策拟作完善

最近国务院有关领导同志在主持研究全国外资工作时指出,近来我国利用外资发生了一些重要变化,出现了一些新问题,为了促进外资工作更好发展,需要认真研究解决,目前外资在我国开始进入房地产、商业零售、金融、保险等行业,外商投资领域进一步拓宽;进来的外资已由产业资本发展到金融资本。同时也出现了四个方面的问题:一是外商收购我国有企业,并由外商控股、再以其境外公司上市,利用中国概念股牟取高额利润,由此造成我国有资产的流失、萎缩。有材料说,现     

Public Financial Expenditure——A Reflection of the Livelihood Improvement

In recent years.China's public finance put social construction high on the agenda and attaches more importance on livelihood insurance and improvement.The 2003-2007 public financial expenditure reflects a fact that the government isputting more emphasis on livelihood andissues concerning the people.     

Voices from the MPC and CPPCC

"Crucial for economic growth.energy utilization has its role in all economic sectors and every aspect of people's daily life.Now we are in dire need of a new profession,namely energy manager.We not only need to have passion and responsibility,but also a scientific approach to conserve energy and cut emissions.APpropriate legislation should be in place.and a special profession should be introduced to ensure the implementation of these laws and regulations."     

Slowdown Trade Surplus Growth

According to Ma Kai＇s economic planning report submitted to the NPC session on March 5th,（Ma Kai is the Minister in charge of the National Development and Reform Commission）,the government has listed the slowdown in trade surplus growth and the steady expansion of external investment as major tasks for 2008.     

Ouyang Riping： A Hero Besides Entrepreneur

A bout fifty years ago. a baby＇s cry broke the sky of quietness, in a small and beautiful town of Hunan province, which surroundcd by green hills and clear water. Though his .birth brought his family great happiness and hope just as any new life, nobody knew that the little boy would get great achievement when he grow up. even start his business oversea, and earn international honor. Let＇s share with you the entrepreneur Ouyang Riping＇s story, which may insights thcsc people who want to succeed and complete oneself in favorite condition or adversity rather leave things to so-called fate.     

Belarus, A Chinese Fort in Europe

＂In recent years, we＇ve found increasing interest from Chinese investors in the Belarus economy. Please let China know, Belarus is always ready to be a true friend to China. We have built a fort in Europe for China,＂ the President of Belarus, Alexander Lukashenko told Zhou Xiaochuan, President of the Bank of China, during his visit to the capital of Minsk, on January 8th, he expressed his high praise and firm confidence in the development of Sino-Belarusian relations.     

What＇s Behind Spring Festival？

Similar to what the Christmas Day means for the westerners,the Spring Festival is the most important celebration for Chinese people.This big event according to Chinese traditional lunar calendar relaxes and pleases the whole country as the happiest gathering time of the year.National-wide crusade for going back home,too-difficult-to-get train tickets,generous family-going-out shopping,Miaohui laundering,New Year Eve reunion dinner,visiting friends and relatives,watching annual TV gala......each piece of clue reminds us of the smell of Chinese Spring Festival.     

KEY WDRDS for Foreign Investment in China

FDI(Foreign Direct Investment),a component of a country's national financlal accounts,is investment of foreign assets into domestic structures,equipment,and organizations.It does not include foreign investment into the stock markets,concession and subcontract.FDI iS thought to be more useful to a country than investments in the equity of its companies because equity investments are potentially "hot money"which can leave at the first sign of trouble,whereas FDI is durable and generally useful whether things go well or badly.     

Brown＇s Blossom in Britain-China

The overall strategic relationship between U.K. and China is ＂better than ever＂, China- Britain relations have maintained good momentum, with increased high-level exchanges and the reinforcement of strategic mutual trust, with more room for growth in the future.     

Challenge and Opportunity Go Hand in Hand——What Global Economic Agitation Brings to the China's Economy?

Domino effects of the global finance agitation As the origin of the subprime crisis,US financial institutions lost USS45 billion last year,accounted for over half of the total US,EU & Japan loss.Since January 15th,Chtigroup released its financial statement of the 4th quarter,showing a net deficit of USS9.83 billion,which marked the hisoric high of its quarterly deficit.     

Consumption, New Protagonist in 2007 GDP

Not long ago, the National Bureau of Statistics released its 2007 Macro Economy Index. Social consumption retail sales reached RMB 8.9 billion, increased by 16.8 percent over the previous year, or 3.1 percentage points higher; the whole investment in social fixed assets was valued RMB 13.7 billion, a year-on-year increase of 24.8 percent, that is 0.9 percentage points higher; and trade surplus amounted to RMB 24.7 billion, rising by 47.7 percent compared with the same period last year, 26.3 percentage points falling over the increasing speed last year. According to preliminary estimates, GDP for the year was RMB 24.67 trillion, up by 11.4 percent from the previous year,