本文从投资学的角度对我国购并市场上的“中策现象”与“德隆模式”进行了阐释。认为购并活动只有符合投资学的一般规律才能获得真正意义上的成功。而这种投资学理论的运用将成为我国未来购并市场发展的主导动力 This paper explains the phenomenon of “middle policy” and “Delong model” in the merger and acquisition market in China from the perspective of investment. Think of mergers and acquisitions only as a general rule in investment learning in order to achieve real success. However, the application of such investment theory will become the main driving force for the development of China’s future merger and acquisition market