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How to understand the new government foreign exchange regulations from recent overseas mergers and acquisitions cases
On 2016165438+128 October and 65438+6 February, Xinhua News Agency successively published questions and answers from the heads of the Development and Reform Commission, the Ministry of Commerce, the People's Bank of China and the foreign exchange bureau on foreign investment supervision. Reiterating that "the policy of encouraging enterprises to participate in international economic competition and cooperation and integrate into global industrial chain and value chain has not changed" and "supporting domestic capable and qualified enterprises to carry out real and compliant foreign investment activities", but also putting forward normative opinions, "paying close attention to some irrational foreign investment tendencies in the fields of real estate, hotels, cinemas, entertainment industries, sports clubs and so on, as well as large-scale non-main investment, limited partnership foreign investment and" mother-in-law ",

The release of the relevant ministries' answers to reporters' questions can be said to be that some people are happy and others are worried. The state encourages enterprises to "go global", and the orientation of promoting enterprise transformation and upgrading through mergers and acquisitions has not changed. Those entrepreneurs who are compliant and capable of integrating cross-border mergers and acquisitions see hope that their cross-border layout behavior will not be affected by the new regulations. For those enterprises that only want to build a grassroots team, hype the concept of fast-forward and fast-out, and even illegally transfer assets, it is tantamount to being completely stopped.

Then, under the new foreign exchange regulations, what problems should be paid attention to in carrying out cross-border mergers and acquisitions? What kind of cross-border mergers and acquisitions will be supported by the government and will not touch the policy red line? We made a case study of several recent transnational mergers and acquisitions. Please consult Huilong for more foreign exchange. Com foreign exchange.

Judging from the public information, the overseas investment behavior listed as abnormal by the regulatory authorities mainly includes four categories: first, it has been established for a short time and has carried out overseas investment without any entity operation; Second, the scale of overseas investment of enterprises is larger than the registered capital of the parent company, and the operating conditions of enterprises are difficult to support the investment scale; Third, away from the domestic parent company, there is no business contact; Fourth, the source of funds is abnormal, and it is suspected of illegally transferring property and illegally operating underground money houses.