美國外資併購國家安全審查制度對中國企業與海外併購的影響以及中國的對策

The United States National Security Review System: What Should China do to Handle Its Negative International Investment Law：Impacts on the Merger and Acquisition by Chinese Enterprises

21世紀初以來，美國加強了對外資併購的國家安全審查，更新了國家安全審查制度。許多國家（包括中國）對外資進入都有國家安全審查制度，這本無可厚非。但是，美國的這一制度具有一定的投資保護主義色彩，很有可能被政治化，成為某種投資壁壘。這對我國企業（特別是國有企業）併購美國企業產生了不利影響，晚近的華為收購案和三一集團併購案等都是明證。我國政府和企業應積極採取應對措施，消除這些不利影響。Ever since the beginning of the 21st Century, the United States has strengthened its national security review over foreign investment and updated its relevant legal system. In general, there is no ground to blame the system since many countries including China have similar ones. The problem is, in the United States such system could be used as an investment protectionism tool and is easy to be politicalized, and thus constitutes some kinds of investment barrier. This will adversely impact the merger and acquisition of American enterprises by Chinese enterprises especially China's state-owned enterprises. The recent Huawei cases and Sany case are the case in point. The author suggests that both the Chinese government and Chinese enterprises should take some measures to respond to it so as to eliminate the negative impacts.