国企并购重组带有明显的政府干预色彩,民企并购国企目的主要在于获取汽车生产资质。在海外收购中,我国企业并购规模普遍较大,整合能力尚有待提升。近年来,我国汽车产业发展迅速,已经成为世界最大的汽车市场。同时,作为典型的资金密集型和技术密集型行业,我国汽车行业壁垒也越来越高,市场竞争程度日益激烈,这决定了中小型汽车企业难以生存。我国政府为了提高汽车产业的竞争力,也屡次出台政策推动汽车产业结构调整,希望改变产业集中度偏低的格局。从企业资本性质角度 Mergers and acquisitions of state-owned enterprises with obvious color of government intervention, the main purpose of private enterprises mergers and acquisitions state-owned enterprises to obtain automobile production qualifications. In overseas acquisitions, the scale of M & A in our country is generally large, and the integration capability still needs to be improved. In recent years, the rapid development of China’s automobile industry has become the world’s largest automotive market. At the same time, as a typical capital-intensive and technology-intensive industry, the barrier of China’s automobile industry is also getting higher and higher, and the market competition is becoming increasingly fierce. This has made it difficult for small and medium automobile enterprises to survive. In order to improve the competitiveness of the automobile industry, our government has also repeatedly introduced policies to promote the restructuring of automobile industry, hoping to change the pattern of low industrial concentration. From the nature of corporate capital