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2003年,中国成为世界上最大的外资流入国家,吸收外资高达535亿美元,占世界吸收外资总额的9.6%,而当年通过并购实现的外资流入量占外资输入总额的比例也突破性地达到7.1%。随着中国产业的不断升级,相当多的行业已经处于饱和状态,对增量资本的容量有限,外资将更多地采取并购的方式进入中国。而上市公司是中国优质企业的代表,通过证券市场并购中国行业龙头将成为外资进入中国的最优路径。
In 2003, China became the largest country with inflow of foreign capital in the world, absorbing as much as 53.5 billion U.S. dollars, accounting for 9.6% of the total foreign investment in the world. In the same year, the inflow of foreign capital through M & A also reached a breakthrough of 7.1 %. With the continuous upgrading of China’s industry, a considerable number of industries are already in a state of saturation, with limited capacity for incremental capital and more foreign capital to enter China through mergers and acquisitions. Listed companies, on the other hand, are representatives of China’s high-quality enterprises. Mergers and acquisitions of Chinese industry leaders through the securities market will become the optimal path for foreign investment to enter China.