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科技进步与经济全球化推动着跨国制造企业资源新一轮的跨国转移和整合。我国实际利用外资额逐年攀升,国外直接投资从简单的合资独资向复杂的并购投资演变。但是从全球来看,我国利用外资额占全球直接投资总额的比重却从2003年的8.2%下降到2006年的5.1%,在本轮跨国制造资本的全球流动中吸收更好更多的国外投资对迅速提升我国综合实力仍至关重要。本文从企业微观层次对跨国制造企业在我国并购投资的动因及所面临的挑战进行解析,试图为我国政府和企业积极应对本轮跨国制造资本的国际流动提供线索。
Scientific and technological progress and economic globalization promote a new round of cross-border transfer and integration of resources of multinational manufacturing enterprises. The amount of foreign capital actually utilized in our country climbed year by year. Foreign direct investment has evolved from a simple joint-venture solely funded to a complicated merger and acquisition. Globally, however, the proportion of China’s use of foreign investment in total global direct investment dropped from 8.2% in 2003 to 5.1% in 2006, absorbing much more foreign investment in the current global flow of manufacturing capital across borders It is still of vital importance to rapidly elevating the overall strength of our country. This paper analyzes the motivations and challenges of MNCs’ M & A investment in China from the micro level of enterprises, and attempts to provide clues for our government and enterprises to actively cope with the international flow of cross-border manufacturing capital.