A Study Of The Factors Influencing The High Quality Development Of China’s Bus Manufacturing Industry

After nearly 30 years of growth,the Chinese bus market turned a corner in 2018,with sales declining for many years in a row.The bus market is gradually shifting from an incremental market to a stock market,which will present a situation where "the strong will always be strong and the weak will be harder".While facing challenges,the development of China’s bus manufacturing industry is also facing huge development opportunities.With high-quality development being the main theme of China’s economic development,China’s manufacturing industry is undergoing a rapid transformation towards high-quality development,and the bus manufacturing industry should also follow suit and turn to high-quality development as soon as possible.Therefore,it is of great theoretical and practical significance to study the factors influencing the high-quality development of the bus manufacturing industry.This thesis takes eight nationally representative listed companies in the bus manufacturing industry as the research object and constructs the bus manufacturing industry high-quality development level index based on the criteria of manufacturing high-quality development.It briefly rebounded during the period from 2015 to 2016,reaching a nine-year historical high.After declining year after year,the Bus Manufacturing Quality Development Index gradually changed to an upward trend after the 19 th Party Congress met in December2017 to propose high-quality development.Among the listed companies in the bus manufacturing industry,Yutong Bus is at the highest level of high-quality development.Further,using the literature research method and LASSO analysis method,we mainly construct the index system of influencing factors of high-quality development of the bus manufacturing industry from 32 indicators in six dimensions,such as solvency,growth capacity,operating capacity,operational capacity,profitability,risk level,and relative value,and study the influencing factors of high-quality development of bus manufacturing industry through the empirical method of LASSO and double choice regression Then,the influencing factors of the high-quality development of the bus manufacturing industry are derived.This thesis first defines the connotation of high-quality development of the bus manufacturing industry and finds that the indicators with a significant positive influence on the level of high-quality development of the bus manufacturing industry are: financial leverage,operating leverage,operating income growth rate,return on assets,quick ratio,net operating margin,and equity multiplier;the indicators with significant negative influence are.Current Ratio.While facing challenges,China’s bus manufacturing industry is also facing new opportunities brought by market development,and achieving high-quality development will be the key for bus companies to seize development opportunities.This thesis suggests that bus manufacturing companies should pay attention to technological innovation and improve their innovation capacity and their business performance;strengthen capital management and control corporate leverage in a reasonable range;strengthen cost control and reduce production costs;and improve management and establish a risk early warning system.The purpose of this thesis is to provide certain reference and references for the high-quality development of China’s bus manufacturing industry.It is hoped that it can provide a valuable reference for relevant management departments,various stakeholders or potential investors,as well as researchers in the bus manufacturing industry.