Research On Asset Restructure For The State-Owned Enterprises

The State-Owned Enterprises(SOE) in China are the backbone of the national economy and represent the country’s competitiveness in the world. With the globalization competition, SOE are facing more and more fierce market competition, how to improve the efficiency, expand the scale and ensure the value of the state-owned assets, and become the important development issues of the SOE. The following reform events in 2015 could be seen as the key to the reform of SOE in China. It is planning a Xinjian group in Xinjiang, China. CSR and china CNR have merged into China Zhongche. Shanghai state owned assets supervision and Administration Commission proposed to complete the reform of state-owned enterprises within the next 5 years. And the Shandong provincial government issued ―On deepening reform and improve the state-owned assets management system for the SOE under the province government‖. Those events led to an upsurge of the SOE reform in China.The assets reorganization for SOE is an important aspect in the reform of SOE in China.XX provincial Party Committee attaches great importance to the reorganization of state-owned assets, in order to promote the development of state-owned enterprises in XX Province, improve the overall competitiveness of tourism industry chain in XX Province, the XX provincial state-owned assets supervision and Management Committee approved the establishment of the tourism group, to take a modern enterprise system, to create a leading enterprise in XX Province, and to achieve the IPO goal for L Tourism group.L Tourism group is the fruits in XX’s mandatory ―matchmaker‖. Its growth in getting bigger and stronger is closely related to the development of the tourism industry in XX Province.But, because the management of tourism group has only administrative power without ownership, many reform measures by the group could be getting further., And the group as the investor and the entities for restructuring all hope to get better positions in the tourism group, and fight for its interests. Each subsidiary is still fragmented and did not operate according to the the initial ideas to form a real ―aircraft carrier‖. This results in low operation efficiency of tourism group, poor overall efficiency. The goal for IPO is getting nowhere in sight.This paper, by applying the theories of motivation for enterprise M & A and asset restructure, studies the restructuring process of L tourism group, and analyzes the major characteristics of restructure for L tourism group and the key factors for the restructurin g failure of L tourism group. This paper is concluded with some related recommadations for restructure of L tourism group, which will also be served as references for the restru cturing of SOE.