| The article aims at the issue of reform,development and strategic regrouping pattern of state-owned capitals in Harbin,by adopting the research approach of first empirical demonstration,then theories and finally systematic analysis.It carries out summaries and analysis,using the many eases taken from Harbin's system reform and industry integration process of state-owned capitals as its demonstration and then points out how decision makers and managers of these state-owned capitals,from the angle of maintaining and increasing values of state-owned capitals,promoting the harmonious development of the society,guaranteeing stability of people's livelihood and cultivating advantageous industries and the city's core competitiveness,can fully rely on local economic and resource advantages,grasp the pulse of local economic development from a forward looking viewpoint,select the most reasonable operation patterns creatively while taking the situation and time into consideration and push the regrouping and integration of local state-owned capitals,in an economic environment featuring capital globalization,elaborate industrial division and creative business operation patterns and propose the viewpoint,the opinion and the suggestionThe second chapter of the article analyzes the inner environment in which the strategic regrouping of state-owned capitals in Harbin has been carried out.Through the statistical analysis of the local economic development and the composition of various economic structures including state-owned capitals,the articles believes that though the proportion of Harbin's state-owned capitals in the whole city's economy is in a shrinking state because of impacts of their economic compositions,geographical characteristics, resource advantages,composition of industrial chains and elements in many other aspects, the development of core state-owned enterprises are still playing an important role in pushing the increment of local economy.For reason of influences of the economic structure,resources advantages and elements of many other aspects,local state-owned capitals in Harbin did achieve a certain degree of development in recent years,but the speed was comparatively slow,which restricted the economic environment,system environment and other elements for state-owned enterprises to develop;these enterprises have not been completely transformed together with the reforms,and urgently require a re-positioning under the new economic background so that a new round of integration can be started. ChapterⅢof the article carries out comparison and analysis on reform patterns of state-owned capitals.The reforms of China's state-owned enterprises started in 1990s.At that time the planned economy pattern of the state-owned enterprises were incompetent in so many aspects to adapt to the reforms of the market economic system,which triggered the commencement of state-owned enterprise reforms.During the process of state-owned enterprise reforms,it can be summarize that three major patterns are widely adopted,and these three patterns have all been duplicated in batches in the state-owned enterprise reforms in different regions and become the leading reform patterns,i.e.1,the pattern representatively adopted by Zhejiang Province by which a state-owned enterprise is auctioned to a person and thus become a private enterprise;2,the pattern representatively adopted by Shanghai,by which a bureau administrated by the government and the enterprises under it are batched into a group that is then pushed to the market,gradually introducing external capitals;3,the pattern by which a state-owned enterprise changes its system and gets listed.The reform of state-owned capitals is a gradual process;different time,different economic environment and different region resource advantages can all change the selection of a reform pattern;the simple imposition of a "uniform pattern" is not practical; the above mentioned three patterns have all once taken a leading position during the different stages of state-owned capital reforms in different regions;in light of backgrounds, all of them have their reasonability and necessity,and they did promote the economic development;of course,there still exist many abuses such as severe losses of state-owned capitals,systems that are seemingly changed but actually remain the same,getting listed after superficial packing,etc.In fact,the 30 years of reforms in China have been an important stage for the reforming process of state-owned capitals.The development of a society is driven by existing problems.Under the background that the Chinese economy has achieved substantial development up to now and has become an important part of the world economic system,decision makers and managers of state-owned capitals are required to see from a viewpoint different from the past,set the scientific development views as their guidance and find ways to realize harmonious development of local economies.Sole pattern,the uniform imposition of comprehensive promotion is no longer suitable to meet the demands of the economic development.ChapterⅣof the article analyzes the positioning of integration of Harbin's state-owned capitals in a strategic level.Harbin is an economic base of our country with heavy industries and equipment manufacturing industries taking the lead.It is different from other economically developed regions in China for the proportion of state-owned capitals in Harbin's local economy is comparatively high.At the same time,the many factors such as geographical location,resource status,historical accumulation and etc also require that it shall not be compared with those developed regions with respect to the development routes and speed of its local economy.Therefore,this article first analyzes the conditions brought by international and domestic environment in the economic development of Harbin,drawing the conclusion that the strategic orientation of its local economy must be from a globalized point of view while adopting creative merger and acquisition means at the same time;then analyzes the basic theories and development tendencies of international mergers and acquisitions;finally adopts the SWOT analyzing and other methods to further elaborate on advantages and disadvantages of Harbin's state-owned capitals and its development opportunities,and then derivates the strategic orientation of local state-owned capital integration.ChapterⅤof the article is about the selection of operation routes and design of patterns during the strategic regrouping of state-owned capitals in Harbin.The article believes that,on account of the development status and tendency of Harbin's local economy,the "blossom everywhere" development strategy or blind pursuit of high-demand industries severing from local realities are both unable to meet the requirements of its development.How to,from the macro level,grasp the advantages,make progress and give up something properly,determine the main direction of local economic development and meet requirements on promoting regional economic development and building the region's international economic competitiveness;how to,from the micro operation level,adopt the most reasonable method to fully discover,cultivate and promote local advantageous resources is the main theme during the system modification and integration of local state-owned capitals.Therefore,this article puts forward M&A and integration pattern, setting globalization and capitalization as the vision,setting the realization of local economic development as value judgment orientation(increasing capital values,upgrading industrial,promoting industrial,increasing taxation,raising employment rate and enlarging and strengthening the brand of the city) and setting merger and acquisition as the basic route and setting industrial investment funds as major cooperation partners.ChapterⅥof the article carries out in-depth analysis of four typically meaningful cases during Harbin's integration of state-owned capitals,i.e.the Harbin Beer M&A and integration case,the Harbin Pharmaceutical Group Holding Co.,Ltd.(HPGC) investment introduction and integration case,the Harbin Measuring & Cutting Tool Group Co.,Ltd. (HMCT Group) overseas M&A case and Harbin No.1 Tool Manufacture Corporation LTD. investment introduction and cooperation case.From the empirical analysis of the cases,the value orientation of different enterprises caused by their own industrial background and status can be clearly identified.The introduction of private funds,M&A expansion and other capital operation patterns are adopted as the driving force to develop these enterprises.Meanwhile,through case analysis,the article believes that enterprise reform and integration is a very complicated and systematic work;determination of value orientation,selection of operation patterns,handling of opportunities,deviation of execution levels and changes of external environment are all possible to lead an enterprise M&A and integration to a different result,as for managers and decision makers of state-owned capitals,the successful key to Impetus state enterprise reform are the value orientation and the proper formulation and adoption of an integration strategy.ChapterⅦof the article draws the theory ponder of M&A expansion.After theoretical analysis and empirical case deduction of previous chapters,this chapter further analyzes the M&A patterns and summarizes and draws conclusions on operation principles and integration pattern during the formulation of integration strategy aiming at core state-owned capitals of Harbin,and also provides suggestions that are pertinent to M&A patterns and integration operations adopted by the decision makers of state-owned capitals. |
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