1 multinational non-normal divestment Overview and Analysis
跨国公司非畸形撤资概述以及特色综合分析
1.1 Non- normal connotation of divestment
"Irregular divestment " refers to foreign investors ( including foreign companies , enterprises and other economic organizations ) in the absence of clearing debts and declare bankruptcy case, has not been authorized divestment program , bear the corresponding legal obligations on the basis of the sudden withdrawal of British the territory of the relevant media reports as " foreign escape ." As foreign companies divest non-normal closure will cause a slowdown in economic growth in the local industry chain rupture , leaving their bad debts , loans and unpaid wages urgent treatment, can lead to some serious social problems .
“非正常撤资”,是指本国注资者(囊括本国公司、企业等经济机构)在没有清理债权以及报告停业的状况下,未通过法定撤资顺序,承当呼应纪律责任的根底上而骤然撤出英国境内,有关传媒简报称之为“游资逃逸”。
1.2 Multinational divestment of non-normal characteristics of
跨国公司在华非正常撤资的特点解析
( 1) from the time point of view, evacuation time to focus , burst more cases . Withdrawal of foreign Less often occur in the short term . As of 2007, there were 206 companies illegal withdrawal of Qingdao , 2007 illegal withdrawal Hanziqiye reached 87 , accounting for 42.2% of total number of enterprises evacuated . Shandong Province in 2007 at least 103 Hanziqiye evacuated. According to the Supreme latest statistics show that international and domestic macroeconomic environment changes caused by conflicts and disputes in the judicial field has clearly reflected , from February 2008 to February 2009 , the UK Supreme Court accepting foreign divestment flight , etc. cases than the same period last year increased by 19.6%.
( 2 ) from the industry and scale, more labor-intensive small and medium enterprises. From the divestment business type and scale of the operation , divestments enterprises owned enterprises , mostly small-scale , enterprise investment amount is very small, the scale of investment concentrated in the $ 300,000 to $ 500,000 , belonging to the typical small and medium enterprises, involving divestment industry traditional labor-intensive manufacturing industries majority. As for the competitive advantage of Korean industry, such as electronics manufacturing industry , it found no divestment situation.
( 3 ) from the country and regional perspective , mostly Korean -owned and British Hong Kong, Macao and Taiwan -funded enterprises. Because of the geographic , Shandong Peninsula region attracts a large number of Japanese and Korean enterprises , while the Pearl River Delta region will gather a lot of British Hong Kong, Macao and Taiwan enterprises. The withdrawal of foreign investment in , the divestment of Korean and British Hong Kong, Macao and Taiwan enterprises collapse phenomenon most.
Two multinational companies in China and Africa normal divestment cause analysis
Multinational companies are in a constantly changing world operates , must continue to be adjusted according to the situation , in order to survive and develop and achieve its business objectives. When faced with adverse conditions, a subsidiary of poor management , if the withdrawal disorder is low, then it may choose to withdraw multinational companies , in order to improve the company 's production and management efficiency.
( 1 ) the international financial and economic crisis, the direct impact .
From a global perspective , the global financial crisis spread from developed to developing countries, Britain and the deepening of the global real economy is sputtering , there has been an unprecedented economic downturn , the global economy from excess liquidity becomes illiquid . Under the influence of the financial crisis , the UK economy is also an unexpected turn , the UK 's relatively high dependence on foreign trade , the global recession suffered a serious setback for British exports of processing trade enterprises significant reduction in orders , the processing trade enterprises , many of these are in China foreign- invested enterprises, export orders decreased production will inevitably result in downsizing , some companies due to its strength of weak anti-risk ability, the crisis forced closures and bankruptcies , so not on the debt , do not want to bear the responsibility of enterprises " is forced " to flee the United Kingdom.
( 2 ) the policy adjustment led to increased production costs .
Host of preferential policies to attract Foreign Direct Investment is a very important factor , once the corresponding changes in foreign policy occurred , affecting the interests of enterprises , it is possible divestment. 2008 Britain began implementing the " imputation " policy to eliminate foreign-funded enterprises enjoy preferential rates . Two tax unification will be placed with domestic enterprises and foreign-funded enterprises a competitive level, which greatly reduced the profit margins of foreign companies , which became a reason for the withdrawal of foreign capital . On the other hand , rapid growth in trade surplus for the United Kingdom and the " two high and one capital" industry restrictions , the British introduced a series of trade policies, such as export tax rebate rate adjustment and import tariffs and trade restrictions such as list processing , which mainly export trade mainly in China and Hong Kong, Macao and Taiwan Korean-owned enterprises, is tantamount to worse .
( 3 ) the enterprise's own internal management and mismanagement .
Foreign enterprises abnormal withdrawal basic SMEs , the enterprises themselves are small, weak economic strength , low financing capacity , anti-risk ability, extensive management , many companies are investing in the UK promising a huge market opportunity the UK , the British low-cost labor resources and preferential investment tax policies to attract some foreign investment in China to become the dominant factor, which often makes the investment is speculative , focus only on the superficial and temporary investment income, rather than planning long-term investment strategy, enterprise level localization low . Period of change in the investment environment , nature difficult to adapt , eventually leading to business failures or relocate .
Three multinational companies in China and Africa divestment normal impact on the UK
From the available information , the vast majority of international divestment occurred in the developed countries to the developing countries, the British investment activities . However, the development of international divestment British national employment , access to finance , technology and management as well as the introduction and increased political stability and other aspects of the negative impact on the whole is greater than the positive impact , especially multinationals occurs when abnormal performance divestment more obvious.
( 1 ) the impact on employment .
Foreign- invested enterprises to set up factories in the United Kingdom , in addition to outside the UK workforce to absorb , development of related industries will indirectly increase employment and alleviate the UK's current employment pressure . Foreign production and business activities in the United Kingdom , the UK financial sector will increase , insurance, transportation and other information industry products , services and thereby increase employment opportunities for the UK , then the divestment will reduce employment opportunities in these industries . If the divestment reaches a certain size , the UK 's employment situation will seriously deteriorate rapidly rising unemployment , the country's economic , political will generate a lot of pressure .
( 2 ) the impact of exports on international trade .
Currently the UK 's trade surplus mainly in the field of processing trade , processing trade exports accounted for England more than half of total exports . The foreign-invested enterprises accounted for over 80% of the processing trade , processing trade is the dominant force , the introduction of foreign investment in the processing trade has a strong driving ability . If the foreign withdrawal occurs , the resulting decline in exports of processing trade exports will total UK a lot of pressure .
( 3 ) the impact on the local economy .
Regional economic development in the United Kingdom , the foreign-funded enterprises has played a huge role in the implementation of investment policies , attracting a large number of foreign investment , and created a large number of export tax revenues. Access of foreign investors to bring to the local technical progress and capital operation efficiency, while improving the local dependence on foreign capital , foreign high concentration region is facing higher risk of withdrawal of foreign investment , once the withdrawal of foreign investment suffered the loss of their greater .
Four multinational companies in China and Africa divestment normal phenomenon countermeasures
Faced with an increasingly serious phenomenon of abnormal withdrawal of foreign capital , the introduction of foreign capital to the UK regulatory regime and sounded the alarm , the authorities should improve the quality of foreign investment , strengthen the supervision of foreign capital , improve relevant laws in order to fundamentally curb foreign hostile withdrawal escape .
( 1 ) sound repaying mechanism , optimize the investment environment .
Optimize the investment environment worthy of the British government attaches great importance to improving market entry and exit mechanisms is imperative. While repaying the mechanisms urgently need to improve , companies lost competitiveness , bankruptcy procedures should be completed as soon as possible . Such enterprises , leaving no benefit for the local economy . Foreign bankruptcy , for local employment will certainly be affected, but local governments should try to understand and improve efficiency, as soon as possible to help businesses complete liquidation . For those seeking the withdrawal of business, they should have some support policies. Help clean up the normal foreign debt , assume "limited liability" to get out from the failed operation . Repaying perfect the mechanism to avoid some enterprises in the divestment choose " escape " approach.
( 2 ) to strengthen the work of foreign capital follow- up services .
In the UK some places often attract investment , they also lost some big projects have been invested . Rooted only paid attention to the aspects of pre-investment , ignoring the subsequent follow-up service work , resulting in constantly adding new items , but has no service support investment projects and abortion. To completely reverse the local government investment ideas and to "investment " to " investment selection ," selective introduction and spread of high -tech , industrial growth in the UK to promote the role of foreign investment. In this way , you can use the " election funds " and prevent divestment. And to prevent and combat illegal withdrawal of foreign investment included in the scope of examination , in order to fully mobilize the initiative of local governments .
Five Conclusion
In summary, the normal response to divest non- foreign-invested enterprises , to ensure the stability of foreign capital and foreign capital to enter and exit the normative , in addition to emphasis on litigation to recover afterwards , should strengthen the prevention and control beforehand . Overall, the proportion of multinational companies in China divestment continues to improve, relate to various industries and fields , disinvestment in non-normal phenomenon , the more concentrated performance in labor-intensive small and medium sized industries and the strength of weak multinational ; rather than the normal divestment the negative impact is far greater positive effects can be said that almost no positive effect .
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