中美两国外资并购的立法特点及比较

Comparison of Respective Legislation Features during Foreign Capital Merger and Acquisition in America and China

美国在外资并购审查立法方面的经验值得中国借鉴。从立法目的看,国家经济安全虽然是其主要出发点,但并不以纯粹的贸易保护为目标;从内容看,立法者对于经济安全的具体含义语焉不详,为执法时的自由裁量权留了余地;从程序看,美国的国家权力结构保证了行政权力不被滥用。与之相比,中国利用外资并购的经验不足,应当以更加灵活、审慎的态度对待外资并购审查,合理立法,以理性的方式保障国家经济安全。

Abstract：It is worthwhile for China to learn from the experiences of America~ legislation on the foreign capital merger and acquisition. First, the purpose of the legislation is to protect the national economic security but not for trade protectionism; second,the words of the law are ambiguous, which leaves room for the executors to judge; third, the separation of powers ensures that the executive power would not be abused. On the contrary, China is short of experiences to take advantage of foreign capitals mergerand acquisition. China is expected to have a more flexible and prudent attitude and defend the national economic security in a more appropriate way of legislation.