Study Of Capital Operation And Technological Innovation In Small And Medium-sized Technology Enterprises

At present, Chinese economy is experiencing two substantial changes: the transformation from Planning Economy System to Market Economy System, and the transformation from a uneconomical way of economy increase to a more efficient one, thus the Socialism Market Economy System need further promoting. To meet these demands of market economy and socialized producing, the traditional small&medium state-own enterprises have to set up the modernized management system and become completely independent members of the market.All those purposes are depended on forming a modern enterprise management system, featured with suitable management constructions that are established by virtue of capital shuffling and reorganization. And more, the process of this reorganization at the same time fulfills 'the First Leap' in the developing history of enterprises. Based on a analysis of the reform of small&medium state-own enterprises, this article mainly focuses on a research of the Enterprise Reorganization, one of many capital shuffling modes, to sort out the difficulties and critical issues concerning those who are undertaking stock shuffling and reorganization in an aim to be listed on the Second Stock Exchanging Board; and secondly, to provide possible solutions on the issues of definition of property rights, management of state assets, stock evaluationof commercial and Non-commercial capital, disposal of enterprise debt and the use of land ,and the settlement of retired people respectively; and finally to build up experiences for the preparation of the capital reorganization of 'Tianwei Technological Institute', at which the author himself is at present working.In light of the research of the bitter experiences in 'Asian Financial Crisis' of many Asian enterprises because of ignorance of technological innovation and blind pursuit of enlargement, the article reiterate the importance of independent capability of initiative innovation and the one of the industrialization of scientific and technological items, especially when an enterprise gets enlargement in size. And more, it meanwhile paves a way for Tianwei to follow to fulfill 'the Second Leap' by promoting capability of technological innovation.The assay develops on with a theme of discussing the capital reorganization of Tianwei Technological Institute. By reasoning the relationship between 'the First Leap' of capital reorganization and 'the Second Leap' of technological innovation, it is to testify the feasibility of Tianwei's reorganization plan and to supervise its practices. Needless to say, the final result is to be further unveiled.Through the researches and discussions, we hope to present a reference for the reform of small&medium state-own enterprises.