⊙记者 赵晓琳 ○编辑 全泽源

Reporter ZhaoXiaoLin ○ edit all ⊙ zeyuan

　　在央企纷纷加大海外并购力度的同时，中国民企也不甘落后，在中国资本“走出去”战略中的作用越来越受到瞩目。而且，越来越多要海外并购的企业开始把目光转向资金实力较强的PE机构，从中寻求最佳并购助手。

In foreign acquisitions increase in scholars from renmin efforts at the same time，China corporation also unwilling to lag behind，In the Chinese capital“Go out”The role of the strategy by more and more attention。and，More and more foreign acquisitions to the enterprise is starting to look to fund strength strong PE institutions，Seeks the best m&a assistant。

　　根据清科研究中心统计数据，2009年至2012年上半年，100多家央企在三年半间完成海外并购交易35起，披露交易金额的32起交易共涉及447.37亿美元，每笔交易的平均金额达13.98亿美元；国资企业同期共完成海外并购交易109起，其中披露交易金额的89起案例共涉及212.71亿美元，平均交易金额2.39亿美元；民营企业共完成海外并购交易118起，83起披露交易金额105.69亿美元，平均交易金额为1.27亿美元。

According to the statistical data, research center，In the first half of 2009 to 2012，In the more than 100 scholars from renmin three and a half years to complete the overseas mergers between 35 up，Disclosure of the transaction amount up of 32 trade involving 44.737 billion dollars，Each transaction the average amount of $1.398 billion；The same period inspected enterprise were done overseas acquisitions since 109，Disclosure of the transaction amount of 89 cases involving 21.271 billion dollars，Average trading price of us $239 million；The private enterprise were done overseas acquisitions since 118，83 the disclosure transaction amount of $10.569 billion，Average transaction amount of $127 million。

　　清科研究中心数据显示，从2009年至今，中央企业海外并购总体上保持稳中求进的趋势，在2010年下半年和2011年下半年经历了两次趋冷之后，2012年上半年凭借中石化、中海油和中国五矿4笔共计超过100亿美元的海外并购再创新高。而同时期，民营企业海外并购基本保持较快的增长态势，尤其进入2012年，民营企业上半年共完成30笔并购交易，其中24笔共披露交易金额达39.16亿美元，在鼓励政策的推动下，民营企业海外并购2012年下半年或将保持快速增长。

The secco research center data shows，From 2009 to now，The central enterprise foreign acquisitions in general WenZhongQiuJin keep the trend，In the second half of 2010 and the second half of 2011, after two hasten after cold，In the first half of 2012 with sinopec、Cnooc and China minmetals 4 pen of more than $10 billion in total foreign acquisitions hit a record high。And the same period，The private enterprise acquisitions overseas basic maintained a fast growth momentum，Especially in the 2012 years，In the first half of private enterprises have been 30 pen acquisitions，Among them were 24 pen disclosure trade amounted to us $3.916 billion，In the push of incentives，The private enterprise overseas mergers and acquisitions in the second half of 2012 or will keep growing rapidly。

　　值得注意的是，在中国企业海外并购中PE机构动作频频，或将成为央企民企海外并购“助推剂”。央企和民企在海外并购过程中面临的主要难题是资金短缺，尤其是民营企业，由于银行融资周期长和条件严格的限制，企业在“走出去”的同时亟待拓宽融资渠道。为此，越来越多的企业开始把目光转向资金实力较强的PE机构。而PE机构在国内市场投资疲弱的形势下，积极调整自身的投资策略并探索拓宽投资渠道，积极地发掘中国企业“走出去”过程中蕴藏的投资价值。

Note the，In the Chinese enterprise overseas in acquisition PE agency action again and again，Or will become scholars from renmin corporation overseas mergers and acquisitions“Thrusting agent”。Scholars from renmin and corporation in foreign acquisitions process is the main challenges facing the short of money，Especially the private enterprise，Because the Banks financing cycle is long and conditions strict restriction，Enterprise in“Go out”At the same time to broaden the financing channels。For this，More and more companies are starting to look to fund strength strong PE institutions。And PE institutions in the domestic market of weak investment situation，Actively adjust their own investment strategy and explore widen investment channels，Actively explore Chinese enterprise“Go out”In the process of contain investment value。