A Study On The Reform Path And Effect Of Zoomlion In The Background Of Mixed Ownership Reform Of State-owned Enterprises

2017 is considered to be a key year for the implementation of state-owned enterprise reform.It has become the theme of economic reform throughout the year.As long ago,it has been made clear that the mixed ownership economy,such as the interlocking shareholding of the state-owned capital,collective capital and non-public capital,is an important realization form of the basic economic system.It Will help to increase the value of state-owned capital in China,and also help to improve the competitiveness of state-owned enterprises,and promote the complementary advantages and coordinated development of various capitals.Under the guidance of this policy,the mixed ownership reform of state-owned enterprises,presents a thriving trend.Up to now,nearly 20 provinces in China have issued relevant guidance documents on the development of mixed ownership economy.With the acceleration of the reform of state-owned enterprises in China,the mixed ownership reform will also move towards a new level.Mixing is a means,while the core of the mix is deepening the reform.At present,the theoretical realm has put forward some opinions and suggestions on how to deepen the reform of mixed ownership,but the specific analysis combined with the case is relatively less.Therefore,based on the background of mixed ownership reform,this paper studies the existing literature of mixed ownership reform and studies the theory of property right,corporate governance theory and principal-agent theory through literature review method,comparative analysis method and case study method.The implementation of the mixed ownership reform of enterprises in China was screened,and ultimately chose the Zoomlion Co.,Ltd.as the object of this article.This paper firstly summarizes the reform path of Zoomlion Co.,Ltd.,including the diversification of equity,merger and reorganization and employee shareholding path,and focuses on the analysis of the key measures of mergers and acquisitions.Secondly,based on the leverage effect of state-owned capital,the value-added rate of state-owned capital,financial performance index and corporate governance structure reform,this paper evaluates the mixed ownership reform performance of the Zoomlion from multiple angles.It is found that Zoomlion has achieved a better reform effect by steadily promoting the reform of the mixed ownership system.The ability to control state-owned capital has been greatly enhanced,and the value of state-owned capital appreciation has been remarkably improved.Finally,this paper summarizes the experience of the mixed ownership reform of Zoomlion,and puts forward some suggestions based on some existing problems,and hopes to explore the effective way for the reform of state-owned enterprises in the future.