外资并购境内企业反垄断规制经验与启示

外资并购境内企业是经济全球化条件下资源在世界范围内的重新分配,其具有引起垄断的趋势。为了实现市场公平、有效竞争,合理配置资源,必须完善法律对外资并购垄断的法律规制。其中的核心内容包括涉及反垄断方面的审查、国家安全审查和行政特许方面的审查。由于外资并购境内企业可能会引起经营者集中,根据我国《反垄断法》的规定,投资者应当事先向国务院反垄断行政管理机关申报,未申报则不得实施并购。同时,立法文件中有对于国有企业保护的考量,并将其作为反垄断审查的重要内容。从市场一体化和经济全球化背景考察,中国作为WTO的成员国,外资并购境内企业必须遵守中国加入WTO时的承诺,保证并购市场的公平。在各项审查标准体系构建方面,不仅要考虑制度的社会调整功能,还要考虑与国际标准接轨,同时要坚持制度安排的科学、合理。

Experience and Enlightenment of Anti-monopoly Regulation for Foreign-capital M&A of Domestic Enterprises

Foreign-capital M&A of domestic enterprises is the reallocation of the resources within the world under the conditions of the globalization of markets,which will lead to the monopolization.In order to achieve the efficient market and fair competition,we must improve legal regulation against the monopoly of foreign mergers and acquisitions.The core contents include the checkout of anti-monopoly,the checkout of national security and the checkout of administrative special permission.As the foreign-capital M&A of domestic enterprises may lead to the concentration of business operators,according to the provisions of China’s "Anti-monopoly Law",investors should declare to the State Council anti-monopoly authority in advance,otherwise the undeclared M&A plans cannot be implemented.Meanwhile,the legislative documents consider the protection for the state-owned enterprises(SOE) and make it an important part of antitrust review.Based on the background of economic globalization and market integration,as a member of the WTO,China must abide by its WTO accession promises and ensure the fairness of the mergers and acquisitions in the process of foreign-capital M&A of domestic enterprises.In building the system of various checkout standards,it is necessary to consider the social adjustment function of a system and meet the international standards while making the institutional arrangements scientific and reasonable.