Motivation And Performance Analysis Of Reverse Mixed Reform Of Private Pharmaceutical Enterprises

The development of private enterprises has been paid emphasis on the state and the government.With the convening of the 18 th and 19 th National Congress,the Central Committee of the Communist Party of China the State Council and other relevant departments give priority to the development of private economy and constantly put forward planning and reform measures in order to provide a better environment for the survival of private enterprises.Private enterprises are an important assault force for China’s economic development.However,financing constraints,partial flow of resources and shareholder agency problems always hamper the sustainable operation of private enterprises.How to improve the financing ability of enterprises,enrich the financing channels of private enterprises and optimize the internal management of private enterprises is not only a question actively explored by government authorities,but also an urgent answer sought by private enterprises.The reform of mixed ownership is not only to encourage state-owned enterprises to introduce private capital,but also to encourage the mutual integration of "state-owned assets" and "private enterprises" and give play to the advantages of different capital.Especially after the outbreak of the COVID-19,the survival and development of private pharmaceutical enterprises encountered challenges but also opportunities.Many private pharmaceutical enterprises have taken the initiative to seek innovation and have introduced state-owned capital cooperation to seize the "rope" in this flood and seize the opportunity to grow.The proposal of the Fourteenth Five-Year Plan for Medical Security for All indicates China’s attitude of attaching importance to the layout of the medical and health industry,encouraging state-owned investment in such strategic and important industries,promoting national equity financing,integrating the resources of the two and carrying out mixed ownership operationFrom the perspective of introducing state-owned assets into private enterprises,this paper explores the reasons for private pharmaceutical enterprises to carry out "reverse" mixed ownership reform and the performance changes after the reform.Based on the post-epidemic era and the background of mixed ownership reform,taking the case of "reverse mixed reform" of the top nine biological enterprises introduced into the investment of Chinese medicine as the object,the paper comprehensively analyzes the causes of mixed reform,and uses the market method and performance indicators to analyze the performance of the top nine biological enterprises after the reverse mixed reform.The study found that the top nine biological enterprises chose the reverse mixed transformation based on their weak resource integration ability,insufficient technological innovation ability,low efficiency of property rights governance and insufficient synergy.Some results have been achieved:(1)After the introduction of Sinopharm investment,the financing constraints of the top nine biological companies have been reduced,and the financing channels have become more abundant;(2)The business fields under the top nine bionomics have been enriched and the innovation ability has been improved;(3)The equity structure is more optimized,the investment efficiency is improved,and the equity governance effect is obvious;(4)The ability of sustainable development has been improved,and the synergy effect is obvious.After the research and analysis of the case of the nine strong biological reverse mixed reform,this paper puts forward the following suggestions:(1)give policy support to alleviate the financing constraints of private enterprises;(2)Private enterprises should also activate creativity and improve their comprehensive strength;(3)Deepen the results of the reform of mixed ownership and give play to the governance effect of different property rights;(4)Private enterprises should take the initiative to seek opportunities for development and cooperation and assume the responsibility for high-quality development.I hope that the research results of this paper can provide reference and help to promote the high-quality development of private enterprises.