Lusong Regulation of Foreign Mergers and Acquisitions Involving Listed Companies in the People’s Republic of China

Erscheinungsjahr 2007
ISBN: 978-90-411-5091-2
Verlag: Wolters Kluwer
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 284 Seiten, Web PDF

Since its accession to the World Trade Organization (WTO), China has
undertaken stronger initiatives toward adapting its legal system to support
the development of a market-oriented economy. However, in this important new
study the author contends that China’s steps in this direction are not
sufficient. Although barriers to merger and acquisition (M&A) targeting of
state-owned enterprises (SOEs) have been significantly reduced, excessive
administrative intervention continues to discourage foreign M&Ainvolving
domestic listed companies. This book proposes changes in Chinese law,
including a new full-scale regulatory scheme, which would enhance and expand
such foreign direct investment. The discussion proceeds from the perspectives
of company law, securities law, antimonopoly law, and foreign investment law.
Based on the analysis of the market situation and policy background in China,
and on a comparison among the relevant aspects of the legal systems of China
and other jurisdictions, the book addresses the Chinese legal system for
foreign M&A involving listed companies, including its policy support. The
analysis highlights such aspects as the following:

• features and structures of the current Chinese foreign M&A market;

• China's state-owned enterprise reform

• functions of the Chinese stock market;

• Chinese foreign investment policy;

• components of the Chinese legal system specific to foreign M&A; and

• comparative studies of foreign M&A regulation and experience (US, EU, UK,
and Russia) and what may be useful in each for China.



The author’s detailed recommendations for the improvement of the Chinese
legal system primarily concern the regime of state ownership exercise, the
establishment of an antitrust scheme, the improvement in the regulation of
corporate takeovers, and national treatment of foreign investors under the WTO
system. This is in every way a ground-breaking contribution to the literature
of international trade law. The author’s deeply informed and cogent analysis
will be of immeasurable value to policy makers and academics across a range of
fields, and the book’s practical value to business persons everywhere with an
eye on China cannot be overestimated.

Autoren/Hrsg.

Lusong, ZHANG

Fachgebiete

• Rechtswissenschaften Wirtschaftsrecht Handels- und Gesellschaftsrecht Handelsrecht, HGB, Handelsvertreter- und -maklerrecht