Regulation Of Foreign Mergers And Acquisitions Involving Listed Companies In The People S Republic Of China
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Regulation Of Foreign Mergers And Acquisitions Involving Listed Companies In The People S Republic Of China
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Author : Lusong Zhang
language : en
Publisher:
Release Date : 2007
Regulation Of Foreign Mergers And Acquisitions Involving Listed Companies In The People S Republic Of China written by Lusong Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
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 Chinaand’s steps in this direction are not sufficient. Although barriers to merger and acquisition (Mand&A) targeting of state-owned enterprises (SOEs) have been significantly reduced, excessive administrative intervention continues to discourage foreign Mand&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 Mandamp;A involving listed companies, including its policy support. The analysis highlights such aspects as the following: and• features and structures of the current Chinese foreign Mandamp;A market; and• China's state-owned enterprise reform and• functions of the Chinese stock market; and• Chinese foreign investment policy; and• components of the Chinese legal system specific to foreign Mand&A; and and• comparative studies of foreign Mandamp;A regulation and experience (US, EU, UK, and Russia) and what may be useful in each for China. The authorand’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 authorand’s deeply informed and cogent analysis will be of immeasurable value to policy makers and academics across a range of fields, and the bookand’s practical value to business persons everywhere with an eye on China cannot be overestimated.
Regulation Of Foreign Mergers And Acquisitions Involving Listed Companies In The People S Republic Of China
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Author : Lusong Zhang
language : en
Publisher:
Release Date : 2017-01-27
Regulation Of Foreign Mergers And Acquisitions Involving Listed Companies In The People S Republic Of China written by Lusong Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-27 with categories.
This dissertation, "Regulation of Foreign Mergers and Acquisitions Involving Listed Companies in the People's Republic of China" by Lusong, Zhang, 張露松, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstract of thesis entitled Regulation of Foreign Mergers and Acquisitions Involving Listed Companies in the People's Republic of China Submitted by ZHANG Lusong for the degree of Doctor of Philosophy at The University of Hong Kong in June 2006 Due to its advantages in enabling transnational corporations (TNCs) to make full use of existing domestic productive forces and markets and thus being conducive to cost-savings in entering a host country, mergers and acquisitions (M&As) are often preferred by TNCs in pursuing investment in a foreign market worldwide. However, China's foreign M&A market does not flourish despite its high level of foreign direct investment (FDI) inflows. For a variety of reasons, China should promote the growth of its foreign M&A market. In fact, foreign M&A involving listed companies is increasing in China due to the potential of its domestic market and its desire to integrate itself into the global economy (evidenced recently by China's accession to the WTO). In this situation, the regulation of foreign M&A involving listed companies is an increasingly important consideration in the country. To appropriately encourage and support foreign M&A, China needs to improve its legal environment. In order to do so, certain policy questions must be addressed first. The writer argues that for a socialist country that practiced a centrally planned economy for several decades and that has determined to develop a market economy, in which M&A is a typical business activity, the Chinese government must in the first place separate its two roles of regulator and representative of state ownership due to the fact that the state is the largest shareholder in the majority of listed companies. In other words, the government should avoid utilizing its administrative power in exercising shareholder rights in enterprises. China should further diversify the mode of exercise of state ownership and reduce its control over competitive industries. At the same time, the state should refrain from unnecessary intervention in the market and make every effort to support and encourage the due function of market mechanisms. Moreover, China needs to change its FDI policy from adopting both favorable treatment and strict controls to national treatment of foreign investors in the context of M&A. In improving its legal system for foreign M&A on the basis of the above policy adjustments, China needs to pay special attention to four aspects: state assets administration, antitrust regulation, enhancement of corporate and securities regimes, and foreign investment control. When doing so, China should base the legal system upon its own social and economic characteristics and at the same time learn from other jurisdictions' experiences. DOI: 10.5353/th_b3719050 Subjects: Consolidation and merger of corporations - Law and legislation - China Consolidation and merger of corporations - China Corporations, Foreign - China Investments, Foreign - China
Mergers And Acquisitions And Takeovers In China
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Author : Cristiano Rizzi
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2012-07-01
Mergers And Acquisitions And Takeovers In China written by Cristiano Rizzi and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-01 with Law categories.
This hugely informative book - unique in its overarching emphasis on the laws governing M&As and takeovers in China - not only shows those interested in investing in China how to avoid legal mistakes and miscalculations. In addition to offering singular interpretive analysis of strictly legal matters, the authors concentrate extensively on the all-important cultural and environmental factors that can make business in China daunting for the uninitiated. Extending this double emphasis on cultural understanding and M&A and takeover expertise, the authors clearly explain such elements of how to enter the Chinese market (or expand a presence in it) as the following: concepts of guanxi and mienzi; understanding China’s rising middle class; valuation of state-owned assets; maximum permitted debt-to-equity ratios; key PRC government agencies involved in the approval of transactions; taxation framework for enterprise restructuring in China; employees as an asset; share swaps; prohibited trading activities when acquiring a listed company; legal framework for dispute resolution; administrative proceedings; liabilities for breach of contract; and responding to intellectual property rights abuse. The authors provide precise details on the characteristics of, and procedures involved in, the wide range of investment options available in China, with knowledgeable guidance on the choice of investment options and protection of investor interests. Because China is clearly a major global economic force and will continue to be so in the foreseeable future, this thorough but down-to earth guide is of immeasurable practical value to foreign investors of every kind, from multinational corporations to individual venture capitalists.
The Protection Of Minority Shareholders Under The New Company Law Of The People S Republic Of China
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Author : Ludwig Hetzel
language : en
Publisher: GRIN Verlag
Release Date : 2009-08-17
The Protection Of Minority Shareholders Under The New Company Law Of The People S Republic Of China written by Ludwig Hetzel and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-17 with Law categories.
Seminar paper from the year 2009 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: B+, Tsinghua University, language: English, abstract: The Company Law of the People’s Republic of China was revised in the year 2005. This paper analyses the protection of the minority shareholders under the new law.
Mergers And Acquisitions In China
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Author : Stamford Law Corporation
language : en
Publisher:
Release Date : 2006
Mergers And Acquisitions In China written by Stamford Law Corporation and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business enterprises categories.
This book provides information on the legal framework, forms and structures of merger and acquisition transactions, government approval and due diligence processes, as well as alternative dispute resolutions. Topics covered in this book include: Political and economic overview; Free trade and its impact on mergers and acquisitions in China; Foreign investment enterprises; Types of acquisitions in China; Approvals and consents; Documentation and negotiation in merger and acquisition transactions; Employment issues; Tax implications; Exchange control; Intellectual property; Post-acquisition issues; Mergers and acquisitions of listed companies; Mergers and acquisitions of state-owned enterprises; Civil litigation; Arbitration and alternative dispute resolution.
Mergers Amp Acquisitions And Partnerships In China
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Author : Olivier Coispeau
language : en
Publisher: World Scientific
Release Date : 2015-03-23
Mergers Amp Acquisitions And Partnerships In China written by Olivier Coispeau and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-23 with Business & Economics categories.
Mergers & Acquisitions and Partnerships in China provides a fast and accessible framework to external growth in China, and is an attempt to accurately describe the main operative conditions and in particular the most common pitfalls for foreign businessmen. The business cases in this book illustrate real business situations, including different outcomes and a thorough analysis of the reasons for success or failure of the case. The authors provide all the necessary tools to better master the negotiation and transaction process, and provide in particular, detailed explanation on the due diligence process and the regulatory framework to help readers successfully lead acquisitions in China. Written by well-known experts in finance, law, and management, who all have deep business knowledge of China, the book aims to help practitioners, such as law firms, audit and advisory firms, and entrepreneurs to start or grow their businesses in China through successful partnerships, and acquisitions and mergers by explaining how these aspects are regulated by a complex web of laws, regulatory, and political practices in a context where the state plays a key role in the approval of important transactions. Contents:Introduction (Olivier Coispeau)Preparing for an External Growth Operation in China (Olivier Coispeau and Stéphane Luo)Initial Approach of the External Growth Operation (Olivier Coispeau, Stéphane Luo and Thierry Labarre)Managing Acquisitions Risks (Frank Zheng, Thierry Labarre, Josephine Chow, Steven Yu and Olivier Coispeau)Negotiating Effectively (Olivier Coispeau)Closing the Transaction (Olivier Coispeau and Stéphane Luo)Seven Case Studies of Mergers & Acquisitions and Partnerships in China (Olivier Coispeau) Readership: Advanced corporate finance students; emerging market students, in particular those working on China; corporate finance professionals, lawyers, auditors, and strategy officials; officers in charge of M&A in international companies and responsible for strategy, with a specific interest in the China market. Key Features:Unique comprehensive and multifaceted vision on how to succeed in negotiating partnerships and acquisitions in ChinaCompact and effective book written to deliver the most critical and needed information including related laws from ChinaFive case studies to facilitate an in-depth understanding of key issues in M&A and partnerships in ChinaKeywords:China;Corporate Finance;M&A;Partnerships;Mergers;Acquistions;External GrowthReviews: "This research is exceptional in many aspects. As the topic itself becomes more relevant than ever, this approach combines a thorough reminder of the key principles in any M&A situation with their practical knowledge of the Chinese environment. This work is of direct academic interest while providing the necessary analysis usually provided with time but also a practical 'handbook' for any player on 'any side of the fence' — advisors, companies on the sell-side, potential buyers as well as asset managers and funds." Jean-François Di Meglio President, Asia Centre "This text is a major contribution to understanding the mechanics of executing an M&A in China, which is likely to become the most significant emerging market for many foreign companies. It is a detailed, technically comprehensive analysis of a complex process in a business environment that presents particular challenges to foreign investors. This book guides the business planners through all the challenging steps of this complex business strategy and will prove to be a major resource in avoiding what could turn out to be very costly errors." Professor Seamus Grimes Emeritus Professor Whitaker Institute, National University of Ireland, Galway "This is indeed an unusual book on foreign investment in China. It provides a brand new framework and an in-depth analysis about the failures of M&A conducted by foreign-owned enterprises. The cases associated with the analyses are beyond the traditional ones and some previously unnoticed ones are highlighted. The authors obviously have a keen understanding of the China market and society based on a long and on-the-field experience. In a nutshell, this book is packed with interesting findings; it will bring a lot to those wishing to do business in China." Dr Wang Duanyong Associate Professor and Director of the Center for China Overseas Studies Shanghai International Studies University "This book provides multifaceted and essential answers to the questions that senior management, and their advisors, willing to design a proper growth strategy in China are facing on the challenge, the complexity and the risk of M&A operations in China." Professor Yves Dolais Emeritus Dean of Angers Law & Economics University
Mergers And Acquisitions In China
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Author : Jianxun Chen
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008-01-01
Mergers And Acquisitions In China written by Jianxun Chen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-01 with Business & Economics categories.
Discusses cross-border mergers and acquisitions (M & A) by Chinese companies, mainly to clarify their strategies and the effect of their M & A at an international level. This book is suitable for multinational enterprise managers, brokers, dealers and investors.
Mergers Acquisitions
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Author : Andrew J. Nussbaum
language : en
Publisher: Sweet & Maxwell
Release Date : 2012
Mergers Acquisitions written by Andrew J. Nussbaum and has been published by Sweet & Maxwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Consolidation and merger of corporations categories.
This title explains the often complex and difficult ideas in legal philosophy clearly and concisely but without over-simplification. It introduces students to the fundamental themes in legal philosophy. It analyses and comments on the writing of the foremost legal theorists, and takes into account the most recent scholarly work.
Corporations And Partnerships In China
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Author : Ke Chen
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2020-12-20
Corporations And Partnerships In China written by Ke Chen and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-20 with Law categories.
Derived from the renowned multi-volume International Encyclopaedia of Laws, this practical analysis of the law of business formations in China provides quick and easy guidance on a variety of corporate and partnership considerations such as mergers, rights and duties of interested parties, stock exchange rules, labour laws, and takeovers. Lawyers who handle transnational business will appreciate the explanation of local variations in terminology and the distinctive concepts that determine practice and procedure. A general introduction covering historical background, definitions, sources of law, and the effect of international private law is followed by a discussion of such aspects as types of formation, capital, shares, management, control, liquidation, mergers, takeovers, holding companies, subsidiaries, and taxation. Big companies, various types of smaller entities, and partnerships are all covered in turn. These details are presented in such a way that readers who are unfamiliar with specific terms and concepts in varying contexts will fully grasp their meaning and significance. Thorough yet practical, this convenient volume puts the information necessary for corporations to compete effectively at the user’s fingertips. An important and practical tool for business executives and their legal counsel interested in engaging in an international partnership or embarking on corporate expansion, this book will prove a valuable time-saving tool for business and legal professionals alike. Lawyers representing parties with interests in China will welcome this very useful guide, and academics and researchers will appreciate its value in the study of comparative business law.
A Guidebook To Mergers Acquisitions In China
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Author : Cole R. Capener
language : en
Publisher:
Release Date : 1996
A Guidebook To Mergers Acquisitions In China written by Cole R. Capener and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business enterprises categories.