后金融危机中国企业的海外并购对策

Strategies of Overseas Mergers and Acquisitions of China's Enterprises in Post-financial Crisis

自2008年金融危机爆发以来,中国企业海外并购交易势头迅猛。在这一过程中也发生了很多失败的案例。究其原因,主要是"走出去"时缺乏清晰的并购思路,缺乏长远的并购战略规划,企业知识管理的能力不足。中国企业应从战略高度思考并购,应不断提高动态能力,提升政府的管理和服务能力,改善国有企业占主体的投资结构,加快支持海外并购的金融体系建设,逐步解除民营企业在融资上的政策壁垒、融资额度、融资利率等多种约束,大力发展资本市场。

Since the outbreak of financial crisis in 2008, the transaction of overseas merger and acquisition is surging in China. Many cases on the failure occur accordingly. The main reasons are that China＇s enterprises are lack of clear ideas and long-term planning on overseas mergers and acquisitions, and insufficient in management ability. Hence, we should take mergers and acquisitions from a strategic perspective, increase dynamic ability and the governments＇ management and service ability, improve investment structure dominated by state-owned enterprises, quicken construction of financial system supporting overseas mergers and acquisitions, remove the restrictions in financing for private enterprises, such as policy barrier, financing limits and interests, etc. and develop the capital market greatly.