Research on the motivation and performance of introducing strategic investors into mixed ownership reform of Huatai Securities

Abstract

From the "Opinions on the development of mixed ownership economy by state-owned enterprises" issued by the State Council to the report of the 19th National Congress of the Communist Party of China, which clearly puts forward "deepening the reform of state-owned enterprises and developing mixed ownership economy", a series of top-level designs highlight the necessity and importance of the development of mixed ownership economy.Major state-owned securities companies have responded positively, promoted the pilot reform of mixed ownership of state-owned enterprises, adopted measures such as the introduction of strategic investors and restructuring and listing, and achieved breakthrough reform results.A series of problems and obstacles have also been found in this early exploration process.This paper selects Huatai Securities as the case study object, analyzes the motivation of mixed reform.and studies the market performance of Huatai Securities before and after the reform, and verifies the impact of the introduction of strategic investors in the mixed reform on Huatai Securities .Based on the case of Huatai Securities, it can be concluded that state-owned securities companies can effectively improve the efficiency of corporate governance through mixed ownership reform.