China’s Expanding Role in Global Mergers and Acquisitions Markets

China’s Expanding Role in Global Mergers and Acquisitions Markets PDF

Author: Charles Wolf, Jr.

Publisher: RAND Corporation

Published: 2011-11-22

Total Pages: 68

ISBN-13: 9780833059680

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The authors evaluate the risks and benefits of increased Chinese foreign investment, aiming to improve understanding of its investment patterns and strategy. They consider how U.S. national security might be compromised as well as how the United States and China can benefit from such investment, providing a way to assess national security risks and benefits and examining Chinese investment patterns in both the United States and elsewhere.

Mergers and Acquisitions in China (with Special Focus on the Financial Industry)

Mergers and Acquisitions in China (with Special Focus on the Financial Industry) PDF

Author: Hannes Mungenast

Publisher: GRIN Verlag

Published: 2007-08

Total Pages: 64

ISBN-13: 3638674053

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Seminar paper from the year 2007 in the subject South Asian Studies, South-Eastern Asian Studies, grade: 87, Dongbei University of Finance and Economics (School of International Business), course: Chinese Financial System, 31 entries in the bibliography, language: English, abstract: China is a fast growing economy. Therefore a lot of companies intend to enter this market. Mergers & Acquisitions (M&A) are a useful tool to do so. First of all, it is important to understand the key principles of M&A. Therefore chapter 2 gives a summary of the most important aspects of mergers and acquisitions in general. Chapter 3 gives an introduction to the Chinese M&A market. It will deal with statistics concerning inbound and outbound deals, FDI and an overview of M&A advisory and investment banks. Chapter 4 will focus on the current situation of M&A activity and foreign direct investment (FDI) in China. FDI is another method for entering a market and is a competing tool to M&A. It will also present some examples of M&A where Chinese companies were involved. Chapter 5 deals with the importance of the stock market for M&A activity. After that, the most important aspects of M&A activities in the Chinese financial industry will be shown. First, an overview of the banking industry in China will be presented and the problems will be shown. After presenting the reasons for foreign companies to enter the Chinese financial market, the M&A activities in that sector will be shown and evaluated.

Mergers and Acquisitions and Takeovers in China

Mergers and Acquisitions and Takeovers in China PDF

Author: Cristiano Rizzi

Publisher: Kluwer Law International B.V.

Published: 2012-07-01

Total Pages: 288

ISBN-13: 9041142134

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This hugely informative book - unique in its overarching emphasis on the laws governing M&As and takeovers in China - not only shows those interested in investing in China how to avoid legal mistakes and miscalculations. In addition to offering singular interpretive analysis of strictly legal matters, the authors concentrate extensively on the all-important cultural and environmental factors that can make business in China daunting for the uninitiated. Extending this double emphasis on cultural understanding and M&A and takeover expertise, the authors clearly explain such elements of how to enter the Chinese market (or expand a presence in it) as the following: concepts of guanxi and mienzi; understanding China’s rising middle class; valuation of state-owned assets; maximum permitted debt-to-equity ratios; key PRC government agencies involved in the approval of transactions; taxation framework for enterprise restructuring in China; employees as an asset; share swaps; prohibited trading activities when acquiring a listed company; legal framework for dispute resolution; administrative proceedings; liabilities for breach of contract; and responding to intellectual property rights abuse. The authors provide precise details on the characteristics of, and procedures involved in, the wide range of investment options available in China, with knowledgeable guidance on the choice of investment options and protection of investor interests. Because China is clearly a major global economic force and will continue to be so in the foreseeable future, this thorough but down-to earth guide is of immeasurable practical value to foreign investors of every kind, from multinational corporations to individual venture capitalists.

The Role of State-Owned Enterprises in Chinese Cross-Border Mergers & Acquisitions

The Role of State-Owned Enterprises in Chinese Cross-Border Mergers & Acquisitions PDF

Author: Kim Bui

Publisher:

Published: 2019

Total Pages: 518

ISBN-13:

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Cross-border mergers and acquisitions (M&As) by Chinese enterprises have played a crucial role in China's expansion in the global economy. Thanks to the impressive internationalization of Chinese enterprises, China has become a major player in the world's cross-border M&A market. Although there has been a growing body of research investigating the motivations for Chinese cross-border M&A, most studies have overlooked the China-specific mechanism of cross-border M&As undertaken by its state-owned enterprises (SOEs). This thesis aims to fill this important gap. Building on a political economy analysis, descriptive data exploration, and in-depth elite interviews with an emphasis on the institutional perspective, this thesis contributes to existing research by providing a new framework for conceptualizing the role of the informal and formal institutions in shaping the specific features of Chinese SOEs' cross-border M&As. This thesis reveals a number of important findings. First, the political economy analysis highlights the concept of national rejuvenation as the key element of China's informal institution. This informal objective has been formally institutionalized and can be observed through national policies and regulation. Second, the descriptive data analysis shows evidence of the directive from the state on the regional and industrial distribution of cross-border M&As by Chinese SOEs. Third, the in-depth interviews with China M&A experts confirm the top-down command where the objective of national rejuvenation is to be pursued by SOEs and SOE managers through cross-border M&As. The informal objective of national rejuvenation has been institutionalized, and through formal control mechanisms the state ensures that the objective of national rejuvenation is collectively shared among the state, SOEs, and SOE managers. The policy implications derived from this research reveal, the state implemented systems to regulate cross-border M&A activities that SOEs and SOE managers are expected to closely follow can be simplified to increase efficiency. The number of bureaucratic formalities can be reduced, as well as streamlining the M&A process, and delegating greater autonomy to SOEs and SOE managers.

China Goes Global

China Goes Global PDF

Author: Huiyao Wang

Publisher: Springer

Published: 2016-04-08

Total Pages: 357

ISBN-13: 1137578130

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Mainland China businesses are going global, transforming the country from a manufacturing export platform into an overseas investment powerhouse. China Goes Global is the most thorough and up-to-date empirical analysis of the accelerating effort of Chinese companies to go global by investing overseas. It details the overall trends of this activity with respect to its sectors, channels, overseas targets, and particular firms, along the role of Chinese Government policy in facilitating business enterprise globalization. The book offers readers an enterprise level of view outward expansion by Chinese firms that is focused not only on the big-names, but also less well-known, but equally important trailblazing enterprises. In doing so it offers practical suggestions on how firms can tackle the challenges encountered when expanding outward.

Chinese Investment in Latin America: Sectoral Complementarity and the Impact of China’s Rebalancing

Chinese Investment in Latin America: Sectoral Complementarity and the Impact of China’s Rebalancing PDF

Author: Ding Ding

Publisher: International Monetary Fund

Published: 2021-06-07

Total Pages: 32

ISBN-13: 1513573349

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Over the last decade China’s investment in Latin America and the Caribbean (LAC) has increased substantially in volume and become more diversified from natural resources to other industries. Using cross-border mergers and acquisitions data, we demonstrate that since mid-2010s China’s overseas investment has tilted toward sectors where China has a comparative advantage in the global markets, a trend similar to that of other major foreign direct investment (FDI) source countries. Moreover, China’s rising overseas investment can be linked to the rebalancing of Chinese economy, and LAC stands to benefit from its complementarity vis-à-vis China in sectors where the rising Chinese overseas investment can be met with LAC’s own investment gaps. The COVID-19 pandemic could have a long-lasting impact on global value chains and FDI flows, which poses both challenges and opportunities to LAC in attracting FDI, including from China, to support the region’s long-run economic development.

Mergers & Acquisitions And Partnerships In China

Mergers & Acquisitions And Partnerships In China PDF

Author: Olivier Coispeau

Publisher: World Scientific

Published: 2015-03-23

Total Pages: 340

ISBN-13: 9814641049

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Mergers & Acquisitions and Partnerships in China provides a fast and accessible framework to external growth in China, and is an attempt to accurately describe the main operative conditions and in particular the most common pitfalls for foreign businessmen. The business cases in this book illustrate real business situations, including different outcomes and a thorough analysis of the reasons for success or failure of the case. The authors provide all the necessary tools to better master the negotiation and transaction process, and provide in particular, detailed explanation on the due diligence process and the regulatory framework to help readers successfully lead acquisitions in China. Written by well-known experts in finance, law, and management, who all have deep business knowledge of China, the book aims to help practitioners, such as law firms, audit and advisory firms, and entrepreneurs to start or grow their businesses in China through successful partnerships, and acquisitions and mergers by explaining how these aspects are regulated by a complex web of laws, regulatory, and political practices in a context where the state plays a key role in the approval of important transactions.

China Goes Global

China Goes Global PDF

Author: David Shambaugh

Publisher: Oxford University Press

Published: 2013-01-18

Total Pages: 428

ISBN-13: 0199860157

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Most global citizens are well aware of the explosive growth of the Chinese economy. Indeed, China has famously become the "workshop of the world." Yet, while China watchers have shed much light on the country's internal dynamics--China's politics, its vast social changes, and its economic development--few have focused on how this increasingly powerful nation has become more active and assertive throughout the world. In China Goes Global, eminent China scholar David Shambaugh delivers the book that many have been waiting for--a sweeping account of China's growing prominence on the international stage. Thirty years ago, China's role in global affairs beyond its immediate East Asian periphery was decidedly minor and it had little geostrategic power. Today however, China's expanding economic power has allowed it to extend its reach virtually everywhere--from mineral mines in Africa, to currency markets in the West, to oilfields in the Middle East, to agribusiness in Latin America, to the factories of East Asia. Shambaugh offers an enlightening look into the manifestations of China's global presence: its extensive commercial footprint, its growing military power, its increasing cultural influence or "soft power," its diplomatic activity, and its new prominence in global governance institutions. But Shambaugh is no alarmist. In this balanced and well-researched volume, he argues that China's global presence is more broad than deep and that China still lacks the influence befitting a major world power--what he terms a "partial power." He draws on his decades of China-watching and his deep knowledge of the subject, and exploits a wide variety of previously untapped sources, to shed valuable light on China's current and future roles in world affairs.

After Globalization

After Globalization PDF

Author: Robert K. Schaeffer

Publisher: Routledge

Published: 2021-09-20

Total Pages: 338

ISBN-13: 100043303X

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In the 1980s, U.S. officials adopted tax and monetary policies that channeled huge new resources into Wall Street, which fueled a stock market boom. To increase profits and payouts to investors as stock prices soared, corporate managers consolidated businesses, outsourced manufacturing to low-wage countries, and adopted new technologies to increase productivity. Government officials then facilitated mergers and negotiated free trade agreements to speed the process of globalization. Wall Street became an engine of capital accumulation and a force for global change. These developments resulted in massive job losses and stagnant wages for most Americans. Meanwhile, tax cuts and the stock market boom created vast new wealth for the rich, and the top 10 percent seized 50 percent of all income in the United States. The result was growing economic inequality. During the decades that followed, globalization triggered regional economic crises, toppled governments, transformed societies, galvanized economic development in China, and created new forms of wealth and inequality around the world. Then in 2008, a financial crisis rooted in Wall Street triggered the Great Recession, wrecked the legitimacy of globalization as a development strategy, and unleashed populist or "restrictionist" social movements and political parties that challenged globalization and attacked its economic and political foundations. This book examines the origins of globalization in the 1980s, the developments that triggered the Great Recession, and the political and economic forces that contributed to the disintegration of globalization as a force for change in the modern world. After Globalization explains what happened—and what comes next.

Mergers and Acquisitions in China

Mergers and Acquisitions in China PDF

Author: Jianxun Chen

Publisher: Edward Elgar Publishing

Published: 2008-01-01

Total Pages: 200

ISBN-13: 9781782542247

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Discusses cross-border mergers and acquisitions (M & A) by Chinese companies, mainly to clarify their strategies and the effect of their M & A at an international level. This book is suitable for multinational enterprise managers, brokers, dealers and investors.