政府持股对中国公司海外并购的影响.pdf

Introduction with started仟0mthelate1 to China’s globaleconomY 970s，due deepeningintegration introducedthe in1 evolved in 979，and the“Open—door’policyby government gradually the from1980to isChina’s Direct period 2000，so Foreign fromthe“Go in1 and the ofacceleratedFDIcanbetraced 999 process global”policy China’s intoWTOin2001，whichworld from 830 entry capturedattentjon．Startingonly China’soutwardFDIreachedahistoricaIrecordof68 millionUSDin1990．Mainland billionUSDinthe of201 made5％oftheworld year 0(SeeGraph1)，whichup total(See hasbecomethemost FDI that，China Graph2)。Besides importantengineamong Mainland economies．Theof2010witnessed China’s uD21％of developing year making outwardFDI economies countnes(SeeGraph2)．Meanwhile，developing bydeveloping theworldtotaIatthesame with economies contributedto25％of r1 yea developed transitioneconomiesthe 71％and contributing remaining4％(SeeGraph4)．However, China asanincubatorof FDIfarbeforean China emerged global engine．Mainland attra