| Aerospace industry is a big country and the need for competition between the major powers, the state and the competition between groups of countries, is building an innovative country’s flag. With the comprehensive national strength, the world’s major powers seeking autonomy in the aerospace field, the initiative has not stopped trying. However, aerospace and other military belongs to capital and technology-intensive industries. For capital-intensive industries, the biggest challenge is funding, technology-intensive means competing risk.1999-2007, China Aviation Industry Corporation by completing two " high-tech projects", deepening reform of basic turnaround, but the scale of assets, sales revenue, profitability, industry competitiveness, operating efficiency and operating system with Boeing, EADS and other world the aviation industry’s leading enterprises, still there is a big gap. At this stage, Chinese enterprises to enter the aerospace and other military assets securitization transition phase, the industry’s professional integration is inevitable. International experience also shows, aerospace and other military enterprises in order to achieve leapfrog development, bigger and stronger, inseparable from capital markets. From the future trend of the development of enterprises, national policy support and the rapid development of their own needs, the overall market is the trend of enterprise groups. In2008, China’s aviation industry to achieve a historic strategic restructuring. Strategic restructuring, AVIC establish fourteen specialized subsidiaries altogether. Currently, the China Aviation Industry Group is imperative to find a scientific management model to improve operational efficiency and integration of capital resource utilization, to the overall market, and promote the rapid development and expansion of the entire group, which is also China Aviation Industry Group to explore key direction. So, in this context, the listing on the overall system from theory to practice, in combination with the aircraft industry in recent years, capital operation practice for the China Aviation Industry Group’s overall market value has a positive guidance, a very prominent part of practical significance key topics At this stage, the overall listing of China in terms of research results less in its infancy, has not yet formed a complete theoretical framework. So, can be based on China’s part of the group representative case analysis, the system summed up the overall listing of Enterprise Group channels and means, which for the future AVIC professional integration and the overall market planning and development has a positive role in guiding the.In this paper, with the continuous development of domestic financial markets, companies listed on the stock market on the Group as a whole attracted widespread attention, with respect to the spin-off of financial innovation is a new model of corporate mergers and acquisitions. Government should guide and encourage enterprises Group’s overall listing, and constantly enhance quality of listed companies, as listed on their overall asset quality help. Moreover, the government departments to promote a corporate group with listed companies, listed companies through the platform to carry out a variety of business activities, such as absorption of funds to expand the options, continue to accelerate the core business of the process of the securities. AVIC overall market through:(a), which will help establish a modern enterprise system and improve the corporate governance structure.(2), the aviation industry to accelerate reform and innovation, promote industrial restructuring within the group, avoid and resolve operational risks.(3), the maximum inventory of assets, securitization of assets, the introduction of more funds for aviation research and production, reduce financial risk.(4) to enhance the research capability of independent innovation, building into integrating the armed forces, civil-military integration and coordinated development of the new system (5), to help speed up China’s aviation industry bigger and stronger, and enhance core competitiveness, leading international aviation enterprises competing against. This article contains a total of five chapters. The following describes each of the first chapter is an introduction, this article focuses on the study of the social background, values, comprehensive comparative analysis of domestic and foreign research theories, methods and content. The second chapter is on the basis of theoretical analysis of the overall market. Mainly from the overall market connotation and six related theories expounded; The third chapter is the overall market pattern analysis. Section driven analysis due to the overall market, second is to explore the conditions required for the overall market, the third quarter is a combination of a typical domestic case to summarize the overall market analysis reveals that the overall listing of the current four major modes; Section AVIC chapters are under the existing policy of the overall market mode selection. Section I introduces the basic situation of AVIC, AVIC Ⅱ is from the current situation and the overall development of securities listed on the current runtime state of development of the overall market, the third quarter for the study of the aircraft industry to achieve the overall market is now facing some of the main problem, the fourth through AHP, model building, combined with the overall listing of the current major mode and AVIC capital operation of the actual situation, the future of the overall market AVIC possible modes, V is the analysis of the overall market has been in the aircraft industry have the condition, and there are still obstacles; fifth chapter is listed in the aircraft industry as a whole the implementation of recommendations.The value of this paper is mainly reflected in the following aspects:first, the argument based on the theoretical level scientific soundness of the overall market; Second, the overall market analysis of the four main modes; Third, using the standard analysis methods, through the China Aviation Industry Group’s overall research for the future in the aircraft industry and the overall market professional integration has a positive guiding value. Of course, this also has certain deficiencies. The overall market as a very complex project, the development of the current practice of the overall market has been significantly faster than the theory, the theory behind the practice pace. Moreover, the overall market is an emerging research topic, research theory also rich enough, I limited knowledge and ability to study the theory has yet to be perfected.(1) This study uses normative research, the lack of more case studies on the overall market as well as listed companies’ financial conglomerate as a whole, performance and other data analysis.(2) knowledge by the author, capacity limitations, the information obtained is relatively small, the theory is not enough to embrace the entire study AVIC overall market mode selection, research theories need to be further explore and improve. |
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