跨国公司对华直接投资近年来呈现出“独资化”的新倾向。本文在叙述了这一新倾向的演进过程的同时,比较了实现独资的并购和新建这两种方法的优劣,用邓宁教授的国际生产折衷理论着重解释了“独资化”兴起的原因,最后提出了宏观和微观上的对策。 Multinational corporations’ direct investment in China has shown a new tendency of “sole proprietorship” in recent years. While narrating the evolution of this new tendency, this article compares the merits and demerits of the two methods of realizing the merger and acquisition of a sole proprietorship, and explains the reasons for the rise of “sole proprietorship” with Professor Deng Ning’s international production eclectic theory. Finally, macro and micro countermeasures were proposed.