中国兼并与收购报告英文(pdf 44页)

INTRODUCTION
Investment Overview
The foreign investment regime of the People’s Republic of China (“PRC”) has
evolved considerably during the past 26 years since the reformist policies of
China’s former leader, the late Deng Xiaoping, first opened China to the outside
world. With its vast reserve of inexpensive labor and its rapidly expanding and
potentially enormous market size, the consensus of international investors is that
by most counts China is currently one of the most promising jurisdictions in the
world for foreign investment.
However, international investors have also pointed out that the current foreign
investment regime in China is far from perfect. Despite its determination to
pursue a market economy and comply with international practices, China
remains a socialist state with planned economy influences, and its government
still emphasizes stability and control above all else. Pioneering foreign investors
who have been operating in the PRC during the last few decades have long been
used to a highly non-transparent and bureaucratic system that requires foreign
investors to unravel opaque local laws and practices, pay high import tariffs for
most products, and navigate around numerous restrictions that only apply to
foreigners. Complex approval processes, layers of government bureaucracy,
undue political pressure, together with inconsistent interpretation and
enforcement of laws are phenomena that have long plagued foreign investors
operating in this country.
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