一是审慎选择投资领域。一般来说，信息安全、国防、电信、能源、航天、交通（港口、机场、航运）等领域对应的国家安全敏感度较高。由于不同并购项目的内容千差万别，建议有意在美开展并购项目的中国企业，在选择并购对象和涉及领域上，事先做足功课，特别是做好法律、监管与政治方面的尽职调查，全面、深入、科学地做好可行性研究和交易风险评估。紧急应对危机的成本远远高于为危机做好准备的成本。

Is a prudent investment choice.In general,Information security/The defence/telecom/energy/The space/The traffic(The port/At the airport/shipping)In areas such as the corresponding national security sensitivity is higher.Due to different projects, the contents of the differ in thousands ways,Advice to Chinese companies m&a projects in the United States,In the choice of mergers and acquisitions involved objects and fields,Do their homework in advance,Especially in law/Regulatory and political aspects of due diligence,A comprehensive/in-depth/Scientific feasibility studies and risk assessment.Emergency response to the crisis is far greater than the cost of cost to be prepared for the crisis.

　　二是加强与CFIUS沟通。在项目前期，根据评估具体结果，可考虑加强与CFIUS的沟通、联系，主动介绍并购投资目的，强调交易对美国的好处，证明自己是一个强大可靠的合作伙伴，征询对方意见，达到增信释疑的目的，为项目后期顺利进展奠定基础。以“直截了当”（Straight forward）的方式面对CFIUS是最佳方法之一，中国企业不应该试图想规避CFIUS审查。如CFIUS在并购交易途中或交割后主动介入调查，则说明美国政府监管部门对该交易各方意图存有疑虑，相应作出阻止交易的可能性会更大。如果中方在美国并购项目涉及美国国家安全，并购企业双方应该直接回应美国政府可能的安全关注，作为收购方的中国企业应该表示愿意与CFIUS签署特定协议，以打消其“国家安全关注”。在涉及安全关注领域的并购案例中，类似“风险调节协议”（Risk Mitigation Agreements）是CFIUS批准交易的必要条件。

Second is to strengthen communication with CFIUS.At the early stage of the project,According to the results to evaluate,Strengthen the communication with CFIUS could be considered/contact,Active introduction of mergers and acquisitions investment purposes,Emphasis on the benefits of trade for the United States,Prove to be a strong and reliable partner,Consult each other opinion,To achieve the purpose of reduce suspicion,Foundation for later project progress smoothly.In order to"straightforward"(Straight forward)Way to face the CFIUS is one of the best ways,Chinese companies should not try to circumvent the CFIUS review.If CFIUS active investigation in mergers and acquisitions on the way or after delivery,Shows the United States government regulators about the deal the parties intended to have doubts,Corresponding will be more likely to stop trading.If China m&a projects involving national security in the United States,Merger and acquisition enterprise both sides should respond directly to the safety of the U.S. government could focus on,As a buyer of Chinese enterprises should be willing to sign a specific agreement with CFIUS said,To overcome the"National security concerns".In the case of the involved security concerns in the field of mergers and acquisitions,Similar to the"Risk adjustment agreement"(Risk Mitigation Agreements)Is the necessary condition to CFIUS approval trading.

　　三是重视聘请专业咨询公司。CFIUS对外国投资审查涉及程序较为复杂，要求企业提供大量资料、情况说明，一般企业内部缺乏通晓美国法律、程序的专业人才。因此，建议中国企业重视专业咨询机构作用，注重考查对方从业经验、所擅长的领域，根据企业自身财力、项目性质选择适合的咨询服务公司，可优先考虑在中、美两国均设有办事机构的跨国咨询公司，这样，前期咨询、签约事宜可在中国进行，具体工作则由该咨询机构美国当地团队完成，并在这一过程中保持及时、顺畅沟通。特别是，中国企业在遴选、确定咨询公司后，应建立相互信任，真正重视咨询公司意见，不可流于形式。

Three is importance to hire professional consulting company.The CFIUS's foreign investment review involves the procedure is more complicated,Require companies to provide a large number of data/Show how,General internal lack of familiarity with U.S. law/Application of professionals.so,Suggest Chinese companies attach importance to professional consultancy,Pay attention to check each other's experience/area,According to their own resources/Project nature choose suitable consulting services company,Can be preferred in the/The two countries have an office of multinational consulting company,such,Previous consulting/Contract matters can be carried out in China,Specific work is performed by the consultancy, the local team,And keep in a timely manner in the process/Smooth communication.Especially in the,Chinese enterprises in the selection process/After consulting firm,Shall establish mutual trust,Really attaches great importance to the consulting firm,Do not become a mere formality.

　　四是务实低调推进。中国企业在准备CFIUS审查以及整个项目并购过程中，要重信守诺，真实、及时、全面、完整地提交美政府审批所需材料；注重务实推进，避免引起炒作。在实现互利共赢方面多做工作，加强双方沟通，多了解美国国会、联邦政府、地方政府、并购目标企业、项目所在社区等利益相关方的关注。特别是在收购完成后，中方企业应注意处理好劳资关系以及与当地政府的关系，取得他们的理解和支持；在企业整合中，用好现有的管理层和人力资源，尽量避免“大换血”、“大震荡”。

Four is pragmatic and low-key.Chinese companies in preparation for CFIUS review, as well as the whole project in the process of mergers and acquisitions,Heavier credibility,real/In a timely manner/A comprehensive/Materials needed to complete submission for examination and approval of the administration;Pay attention to the pragmatic advance,Avoid causing hype.Do more work in realize mutual benefit and win-win results,Strengthen the communication on both sides,Know more about the United States congress/The federal government/The local government/M&a target enterprise/The attention of project communities and other stakeholders.Especially in after the completion of the acquisition,Chinese enterprises should pay attention to deal with industrial relations and the relationship with local government,Get their understanding and support;In the enterprise integration,Good use of existing management and human resources,Try to avoid"Big changes"/"Big bang".

　　（作者系德勤咨询有限公司总监）

(The author is director of deloitte consulting co., LTD)