进入新世纪以来，我国企业的海外并购日益频繁，而且和国际上主要国家一样，上市公司成为我国海外并购的主要参与者。全球化的趋势日益得到确认和加强，人民币国际化上升成为了国家战略。亚投行的成立也宣告了中国政府和企业在走出去的道路上走出了坚实的一步。 自2008年金融危机以来，中国经济保持了高速稳定的增长态势，成为区域乃至全球的经济引擎。人民币汇率进入稳定的上升通道，国际资产价格相对走低。种种趋势都促使中国企业加速进行海外投资。但是中国的海外并购从来都是成功和失败并存的。海外并购考验的是一个企业的综合实力，包括对行业的认知能力、对资源的整合能力、对资本市场的理解能力等。 本文结合了近些年中国上市企业的海外并购案例，对我国企业的海外并购的背景、特点、趋势等内容进行了分析，并且重点涉及了企业海外并购的实务，并结合2015年1月公告的众信旅游并购Med Club的案例进行了分析。 本文分为五个部分，第一节介绍了中国上市企业海外并购的背景、特点和趋势；第二节介绍了中国上市企业海外并购实务，围绕我国上市企业海外并购的程序展开介绍；第三节为案例分析，以众信旅游并购Med Club为例对上市企业的海外并购做了详细介绍；第四节为经验和总结，从众信旅游并购Med Club出发，总结了一些其他上市公司进行海外并购可以借鉴的经验。

Since the 21st century, the occurrence of M&A of Chinese enterprises become increasingly frequent. As other main countries in the world, listed companies become the main participants in the area of overseas M&A. Meanwhile, the trend of globalization is increasingly confirmed and strengthened and he internationalization of RMB has become a national strategy of China. The establishment of Asian Infrastructure Investment Bank has announced that Chinese government and enterprises are on the way of the integration of the global economy. Since the financial crisis in 2008, China’s economy still maintained a stable growth of high speed and now it’s an important engine of regional and global economy. The exchange rate of RMB maintain a trend of stable rise, so the price of overseas asset is relatively cheap. All of these trends make it an excellent idea for Chinese enterprises to make overseas investment. Whether the overseas M&A can be successful depends on the comprehensive strength of an enterprises. The article introduce the background, characteristics and trends of overseas M&A of Chinese listed companies, based on the M&A cases in recent years. The analysis is focused on the practice of the overseas M&A. The case that U-tour takeover Med Club is set as an example. This article is divided into five parts. The first section introduces the background, characteristics and trends of the overseas M&A of Chinese listed companies. The second part address the practice of the overseas M&A and introduce the procedure of it. The third part is the example of U-tour, which contain some detailed information of the case. The last part is the summary and experience, which summarizes some points that other companies can learn from the case.