Abstract:

Even if practicing free trade as the number one economic power, the US still has to rigorously review the foreign capital. Although the overall investment environment is still an open attitude to foreign investment, the US is as stressed on legislative system as the developing countries. Northwest Nonferrous International Investment Company’s Acquisitions to the Firstgold Co., Ltd. has the similarity with the acquisition cases of some Chinese companies to the United States occurred in recent years. All these M&A cases involve the US national security review system. This article will give an introduction about US national security review system on Foreign Mergers and Acquisitions, based on 2007“Foreign Investment and National Security Law” and its implementing regulations “Regulations Pertaining to Mergers, Acquisitions, and Takeovers by Foreign Persons”, from the substantive and procedure law, and according to the origin and development of legislation, the main features of the review, the review elements of national security investigation and the evaluation to the system operation.

Key words: national security review, foreign capital, merger and acquisition, the United States

摘要：

美国虽然是奉行自由贸易的头号经济大国，对于外资进入本国依然要严格审核，虽然总体环境仍是对外资持开放态度，但在立法管制上丝毫不比发展中国家放松。西北有色国际投资公司收购尤金公司与近年发生的几个中国企业赴美并购案相似。这些并购案均涉及美国的国家安全审查制度，本文拟以2007年《外国投资与国家安全法》及其实施条例《关于外国人兼并、收购、接管的条例》为基础，从程序与实体两个角度，从立法缘起与发展、审查主体的特点、国家安全考察审查要素、制度运行评价，对美国的外资并购国家安全审查制度加以介绍。

关键词: 国家安全审查, 外资, 并购, 美国