Market Research Department: Accelerate the development of new quality productivity with high-quality mergers and acquisitions
In today's global economic landscape, the cultivation of new quality productivity has become the focus of strategic competition among major countries. As an important lever, mergers and acquisitions are accelerating this process. Vigorously developing new quality productivity has become the core task of building China's modern industrial system and realizing a new pattern of high-quality development. General Secretary Xi issued a paper in Seeking Truth on May 31, systematically explaining the connotation of new quality productivity and the way to develop new quality productivity, pointing out the direction for the development of new quality productivity. As one of the main ways of capital operation, M&A has also become an important means of developing new quality productivity. On June 19, Wu Qing, Chairman of the Securities Regulatory Commission, pointed out in his keynote speech at the opening ceremony of the Lujiazui Forum that we should actively embrace the development of new quality productivity, support listed companies to use various capital market tools to enhance their core competitiveness, and especially give full play to the role of capital market as the main channel for mergers and acquisitions; The CSRC issued the "eight measures", proposing to strengthen the "hard technology" positioning of the science and technology innovation board and give greater support to mergers and acquisitions. In April, the State owned Assets Supervision and Administration Commission pointed out that strategic emerging industries should be developed flexibly by means of mergers, acquisitions and reorganization in the on-site promotion meeting of deepening and improving the reform of state-owned enterprises.
Looking ahead, M&A may play a greater role in developing productive forces.
International perspective: new quality productivity is the core focus of the current big power game. The current new round of scientific and technological competition is unprecedented, and major countries and economies in the world have strengthened their layout in emerging and future industrial development fields. The post epidemic developed countries, with the help of the return of manufacturing industry, have promoted the continuous acceleration of innovation investment. There is still much room for China's R&D investment to improve. There is still a gap between China's labor productivity and that of developed countries. It is urgent to seek new growth drivers. Similar to China, in-depth promotion of the innovative development of the digital economy is also an important way to improve productivity in various industries in the United States. International experience shows that large enterprises and small and medium-sized enterprises have their own advantages in developing new quality productivity.
Functional perspective: M&A is an important means to promote the development of new quality productivity. The construction of new industrialization and modern industrial system is the industrial background of "new quality productivity". This chapter reviews the development of the new quality productivity and summarizes the connotation and characteristics of the new quality productivity.
Then it combed the recent relevant policies on mergers and acquisitions. At present, mergers and acquisitions have become an important means to promote the development of new quality productivity, and mergers and acquisitions driven by technology have become a new trend.
Practical perspective: mergers and acquisitions in the field of new quality productivity become more active
In the current context of cautious M&A in general, the activity of industrial M&A has continued to increase, and M&A driven by new areas has become increasingly active. Under the situation of new capital market reform, M&A will play a greater role in the development of new quality productivity.
Case perspective: analysis of typical M&A cases in the "9+6" field
This chapter selects three classic cases of technology integration of overseas companies (Siemens M&A Insight EDA), domestic technology enterprises through M&A upgrading (Zhongwang Software M&A Beijing Bochao), and traditional enterprise M&A transformation (Zheneng Power M&A Zhonglai Shares) to analyze the impact of M&A cases in the "9+6" field on the development of technology enterprises.
Conclusions and prospects
In the current global economic pattern, the cultivation and development of new quality productivity has become the core of national strategic competition. Through in-depth analysis of international perspective, policy perspective, practice perspective and classic cases, this paper systematically expounds the key role of mergers and acquisitions in promoting the development of new quality productivity. Looking into the future, M&A and restructuring will continue to be a new driving force to promote new quality productivity and high-quality economic development, especially in scientific and technological innovation, green economy, digital transformation and other fields. It is expected that the state will continue to introduce more supportive policies to provide more powerful support for mergers and acquisitions, and promote the deep integration of the capital market and the real economy.
Risk warning
1. The economic growth is less than expected; 2. Policy support is less than expected; 3. The promotion of mergers and acquisitions was not as expected; 4. The technological development is not as expected.
