2006-Report on Chinese Mergers and Acquisitions Law-(Volume 2006)

Author: Shi Jian San
Publisher:
Publish Date: 2006-08-01
Features: Opening the manuscript of China M&A Law Report (2006 Edition), it is a great pleasure to see that legal scholars have finally entered this highly innovative practical field from an academic perspective. The teachings of management scholars and economists are often emotional and subject to more variables, which, while catering to the passion for innovation, somewhat weaken the foundation of standardized operations. Over the past decade, M&A transactions have swept through China's market economy in the difficult process of growth, booming not only against the resistance of management officials who held the power of "closing, merging, transforming, and downsizing" under traditional thinking but also overwhelming entrepreneurs with open minds. Especially with the ideological inclination of "influencing the economic order," "loss of state-owned assets," and "threats to national security," those involved in discussing and conducting M&A have had to dedicate significant effort to explaining and debating the basic concepts and functions of M&A. Adding to this, in recent years, many corporate titans and market speculators have often used the banner of M&A integration to promote themselves in the industry, with the successful ones being hailed as leaders and the unsuccessful ones being disgraced for their M&A endeavors. Therefore, approaching the theme of M&A from a legal perspective is a long-standing demand of the industry. The M&A Law Research and Consulting Center is the first domestic research institution established by the Institute of Law at the Shanghai Academy of Social Sciences, specializing in the legal issues of M&A. Its purpose is to regulate M&A phenomena through the rule of law, guide M&A development with legal studies, introduce the latest research findings on M&A law worldwide, thoroughly analyze various theoretical issues of M&A, closely monitor the practical challenges of M&A operations, and build a platform for the exchange between theoretical research and practical operations in M&A law, thereby promoting the rule-of-law process of M&A activities in China. China M&A Law Report (2006 Edition) is the first annual report on M&A law published after the establishment of the Center, and its pioneering significance is truly remarkable. I have known Jian San, the lead author of this book, for many years. His monograph Theories of Cross-Border M&A (1999) was the first systematic theoretical work in China on the study of cross-border M&A. As a seasoned lawyer with a master's degree in law and a doctorate in economics, Jian San has directly participated in the legal operations of dozens of domestic and international corporate M&A transactions and presided over the arbitration of dozens of M&A disputes, demonstrating extensive experience and outstanding reputation. Grateful for his kindness, Jian San has assisted me in co-establishing the Global M&A Research Center and later the All-China Federation of Industry and Commerce M&A Association, and has served as the chief editor of China M&A Report, which has since become an industry annual. Based on the experience of the predecessors, when legal scholars enter, reason will restrain passion, and procedures will guide actions. We hope that the publication of China M&A Law Report (2006 Edition) marks the entry of China's M&A market into a well-ordered period of development.