总结: | The regrouping of state-owned enterprises is an econonimic conception expressing the optimal allocation of resources. "Under the conditions of a market economy, utilizing capital markets to regroup the state-owned enterprises is an effective approach to reforms and structure adjustment in state owned sector. Based on many cases of mergers and acquisitions, this dissertation examines the theoretical issues, approaches, characteristics and the problems of the enterprise regrouping. Some suggestions cormning the policies to improve capital markets and the regrouping of state-owned enterprises were put forwarded. This dissertation has identified the five modes of regrouping: expansion, contraction, investment and share-control, access the capital market by borrowing the "shell", and share adjustment
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