| As one of the private institutional investor stars in china,Yongjin department has experienced every stage of China's capital market and participated in different types of capital operation since it was setted in 1994.legal persons shares,transferred allotted shares, and the strategic placement of new shares issued in 1990s, Marching the pharmaceutical industry and then holding Yunnan international trust&investment,sinolink securities from 2002, slowing down financialization and focusing on industry after 2008, Yongjin department has abundant capital operation experience. China takes the lead in coming out of the haze after the 2008 global financial crisis.At the same time,it is facing a structural transformation of the economy which needs so much money to support it,while the international institutional investors suffered a great loss and there are some entry barriers for the international capital.So it is time for chinese local private institutional investors to develope themselves,and my study on this topic is necessary, important, meaningful.Mainly by example analysis, this paper focuses on the different types of capital operation in every stage of china's capital market.As we all know, The ultimate objective of capital operation is in pursuit of capital appreciation.A successful capital operation is shaped by the macro and microscopic environments around the enterprises,so the paper finally chose the social,economic,industrial and corporate environments for a detailed analysis to get why and how did the Yongjin department do like this, its Features,defects,risks.Then it can inspirate other chinese local private institutional investors for a greater development.Based on the research of Yongjin department's capital operation,we can find the importance of a successful capital operation in China is rich in connections and grasps the information correctly and rapidly.In the process of the deliberately contacts,there always makes a deal between money and power.at this moment we should make a balance between the risks and benefits.Besides.the corporation should adjust its strategy as the corporation's different development stages go on.The competition between corporations even countries is the competition of the talents,so any successful enterprise should have a perfect talent cultivation system and incentive mechanism.Because of the selected industry,most of the materials are from the newspapers,magazines coupled with the author's limited knowledge,there are still some disadvantages in this paper,such as the industry environment and enterprise environment analysis. |
