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中国企业跨国并购的外部动因有很多,本文主要着重阐述中国企业进行跨国并购所面临的宏观经济因素.选取1990~2008年的数据,运用单位根检验、格兰杰因果关系检验法和方程的回归拟合,以中国的人均GDP、外汇储备和出口为解释变量,跨国并购为被解释变量,对中国企业跨国并购的外部动因进行了实证分析.结果表明中国的人均GDP、外汇储备和出口都是影响中国企业进行跨国并购的重要因素,且人均GDP的影响较其他两个因素明显.“,”Cross-border mergers and acquisitions of Chinese enterprises cause by a lot of external motivation,this paper focuses on cross-border mergers and acquisitions by Chinese enterprises facing macroecoomic factors.Selecting the data from the year of 1990 to 2008,using unit root test,Granger causality test method and the regression equation fitted,with China's per capita GDP,foreign exchange reserves and exports as explanatory variables,crossborder mergers and acquisitions to be interpreted as variables,then conducting an empirical analysis.The results show that China's per capita GDP,foreign exchange reserves and exports affect Chinese enterprises as important factors in cross-border mergers and acquisitions,and the impact of per capita GDP than the other two factors significantly.