美国外资安全审查新规:制度变化、投资影响与中国应对

New Rules on Foreign Investment Security Screening in US:Institutional Change,Investment Impact and China's Countermeasures

2018年美国出台《外国投资风险评估现代化法》(FIRRMA),2019年和2020年又陆续发布补充规定和实施细则。这是美国自2007年颁布《外国投资与国家安全法》(FINSA)之后又一次对外资安全审查制度进行的重大修订,是美国外资准入制度的最新变化。本文基于FIRRMA与FINSA的对比,着重分析美国外资安全审查制度的实质变化及其针对中国投资的特别用意和规则设计。FIRRMA的颁布实施,极大增强美国外商投资委员会(CFIUS)的审查权限,并不断扩大其审查范围,使其对来自中国的直接投资审核愈加严格,导致中国企业赴美投资急剧下降,投资风险不断增加。为此,我国应对FIRRMA实施带来的投资风险进行全面评估,加强对跨境直接投资的指导,企业应主动适应外部环境的变化,积极转变发展思路。

The USA introduced the Foreign Investment Risk Review Modernization Act(FIRRMA)in 2018,with additional regulations and implementing rules to be issued in 2019 and 2020.This is the latest change and the other major revision of the US foreign investment security screening system since the enactment of the Foreign Investment and National Security Act(FINSA)in 2007.This research focuses on the substantive changes and its special intent and rules design for Chinese investments based on the comparison between FIRRMA and FINSA.FIRRMA has greatly enhanced the investigation authority and scope of CFIUS,and led to a sharp decline in investment by Chinese companies in the US and an increasing risk of investment.In this regard,China should conduct a comprehensive assessment of the investment risks brought by the implementation of FIRRMA,and strengthen guidance on cross-border direct investment.At the same time,Chinese enterprises should quickly adapt to changes in the external environment and actively switch their development ideas and strategies.