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?CR4WFJ0JA1 ?wv%kc-4+Ng FDIhxy+Novwc5f3 , %-owke% , -%oxR , wc+9Q94+o+/1wBxkwk+y|oYk1(wGJkMwkYUOy|oYvWk4wkw|kRG+oKKdBL v w +N ?CR4WFJ0JA2AbstractGlobal capital flow is focusing on M & As, which are also the main form andmomentum of TNCs FDI. Cross border M & As have been increasing in numberand size in china , and bring positive and negative influence to domestic economy.Totally, the positive influence is more obvious.It is an urgent issue for us to cope with the trend of M & A, and to formulatethe strategies to facilitate foreign capital. There it is a must for us to explore thetrend of M & A, probe the basic rule of M & A so as to improve the quality andefficiency of facilitating foreign capital.This thesis takes Carlyle acquisition XCMG case as an example, andanalyzes the current situation and problems of M & A in China, thus initiates thethoughts of new ideas of foreign investment.K Key WordsL Global capital flow Cross-border M&A FDI New ideas?CR4WFJ0JA3- 0 .41. 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