第五次跨国并购热潮席卷全球。本文论述了中国企业跨国并购的动因、现状及障碍,并提出了实现跨国并购的对策建议。虽然中国企业还不是当代跨国并购的主导力量,但是中国企业的国际化是适应经济全球化的必由之路。然而中国企业的跨国并购应以自身实力为基础,量力而行,逐步推进,走出一条经济全球化趋势下的跨国并购之路。 The fifth cross-border mergers and acquisitions boom sweeping the globe. This paper discusses the motivation, current situation and obstacles of cross-border mergers and acquisitions by Chinese enterprises and puts forward countermeasures and suggestions on how to achieve cross-border M & A. Although Chinese enterprises are not the dominant force in contemporary cross-border mergers and acquisitions, the internationalization of Chinese enterprises is the only way to adapt to economic globalization. However, the cross-border mergers and acquisitions of Chinese enterprises should be based on their own strength, do their part and step by step, step by step, out of a trend of economic globalization, cross-border mergers and acquisitions.