Abstract: This article takes the activity of Chinese companies’ cross-border Merger and Acquisition（M&A）operations as an investment project, amply studies the whole M&A process, constructs an operational model of M&A process, and draws from Geely M&A Volvo (i.e. to conduct the partial empirical research of the model). The study shows that: a cross-border M&A project is divided into the M&A preparation phase, implementation phase, and integration phase. As a result, Chinese companies carrying on cross-border M&A should integrate the internal and external forces, which usually include investment banks, consulting firms, commercial banks and government, to form an efficient M&A team.

Key words: Chinese company; cross-border M&A; operating model; investment, M&A

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