The Study On Restructuring Of Central SOEs

State-owned enterprises(SOEs) are the backbone of the national economy in China. Meanwhile the Central SOEs are an important Part of SOEs, for which the state-owned Assets Supervision and Administration Commission of the State Council of the People's Republic of China(SASAC) performs investor's responsibilities. As a leading force in the national economy, the development and expansion of the central SOEs involved in the state-owned economy and industrial structure adjustment, China's overall economic competitiveness in the world,national economic security and many other important aspects. Therefore, the strategic reorganization of central SOEs, on the one hand can enhance the overall control of state-owned economy and leading role in enhancing the efficiency of state-owned economy, increasing the value of state assets; the other hand, it has great significance to improve the core competitiveness of the central SOEs, and ultimately control the formation of the national economy in a competitive international economy, with a value of the creative group of central SOEs.This paper introduces the concepts of corporate restructuring, principles,types and effect firstly; then review the history and current status of central SOEs, describe the central goal of corporate restructuring from a macro and micro objectives, review the process of strategic reorganization and point out the existing problems. Then discusses the general concept of reorganization of central enterprises, and on this basis, build a central pattern of enterprise restructuring. In the fifth part, the performance appraisal system of central SOEs restructuring is established, and then select the restructuring of China Aluminum Industry Group as a case study of the restructuring performance, by comparing data before and after restructuring, we can summary the impacts to its own restructuring and China's aluminum industry. Finally, on the basis of summing up the above, put forward the policies and measures to promote the further strategic restructuring of the central SOEs.