英语论文网

For a long time , the Western countries there has been " China threat theory ." With China's growing economic strength , rising international status , some Western countries regard China as a potential rival to promote the "China threat" theory , mergers and acquisitions of Chinese enterprises set up many political obstacles. At the same time , some areas such as political unrest in North Africa and the Middle East , serious harm to the Chinese enterprises in the local business , overseas mergers and acquisitions increase in risk . CNOOC acquisition of Unocal oil company by the U.S. Congress to "national security " as the reason for denial . China Aluminum acquisition of Australian Rio Tinto shares by Australian politician obstruction and failure. Huawei's acquisition of Marconi was the British government's interference forced to give up . Rosneft oil acquisition encounter the opposition of the Russian parliament failed. Chinese enterprises in overseas mergers and acquisitions process, often encounter the country 's political forces hindered. Chinese enterprises overseas mergers and acquisitions often took place in relation to the national strategic interests of the industry, such as the resources sector , science and technology industries. Therefore, to make everything appear prepared to deal with the political risk of overseas mergers and acquisitions .

2 , legal risk

不同国家的法律制度环境相差很大。中国企业处于“走出去”初级阶段，对世界其他国家的法律研究还不够。海外并购涉及到众多法律，如国家安全法、反垄断法、劳工法等。中国企业海外并购过程中需要付出高昂的法律费用，增加了并购的成本。同时，由于对国外法律的熟悉不够，往往造成并购的功败垂成。

Environmental legal systems of different countries vary greatly . Chinese enterprises are "going out" the initial stage of the laws of other countries of the world is not enough . Overseas mergers and acquisitions involving numerous laws such as the National Security Act , antitrust and labor law. Chinese enterprises overseas M & A process needs to pay high legal fees , increasing the cost of acquisition . Meanwhile , because of the familiarity with foreign law is not enough , often resulting in mergers and acquisitions have lost.

美国设立了外国投资委员会，颁布了《外国投资与国家安全法》，加强了对外资并购的国家安全审查。联想并购IBM的个人电脑业务时，就曾被外国投资委员会以国家信息安全为由进行调查。

United States established the Committee on Foreign Investment , promulgated the "Foreign Investment and National Security Act," strengthened the national security review of foreign mergers and acquisitions . Lenovo's acquisition of IBM 's personal computer business , it was the Foreign Investment Committee to investigate the grounds of national security . The survey almost makes second acquisition failed. Foreign labor laws for the protection of labor rights and the Chinese are also considerable differences exist . China M & A after adjustment for employees are often subject to local regulations. TCL Thomson M & A due to local regulations do not understand the restrictions on the number of layoffs conflict with the union , eventually leading to mergers and acquisitions fail.

3 , and cultural integration risk
Foreign concept of corporate culture difference is huge. Mergers and acquisitions after contact with different cultures , often have a relatively large conflicts. Cross-border m