论政策的灵活性——关于并购的反垄断控制

On flexibility of policies-about anti-trust control on M&A

企业并购有利于企业规模的形成,也容易导致垄断。反垄断法对并购的规制需要借助具体的并购控制政策来实现。中国的市场运行情况、法治发展水平、企业并购自身的特性等诸多因素决定了并购控制政策应该是灵活性的。通过各种合理的途径实现灵活性的并购控制政策,使具体控制政策与反垄断法的原则性指导相互协调运行,更加合理地规制在中国方兴未艾的企业并购行为,不仅有益于中国企业竞争力的培养,而且有利于法律的完善和市场经济的健康运行。

Though M&A may help a corporation with large scale, it can also lead to monopoly. Control by Anti-trust law on M&A makes itself enforceable via respective policies. The control policies'flexibility depends on China's market operation, development in rule of law, and features of M&A itself, etc. Flexible control policies, which can be constituted in proper ways to match the provisions by Anti-trust law and to regulate the developing M&A in China, will contribute not only to competitive strength of Chinese corporations, but also to the perfection in legislation and the healthy operation of market economy.