Essay on corporate restructuring

The reorganization of the company is to make the enterprise stronger and make more than 1000 employees happier. The people of the Far East began their ten-year dream-building process. The following is a short essay on company restructuring that I have carefully arranged for you. Welcome to refer to!

Ten years of wind and rain, ten years of tempering, ten years of development and ten years of glory. After attending the "Ten-year Exhibition of Company Restructuring" organized by the group company, I was deeply moved, extremely excited and extremely proud. I am excited that the company has achieved such brilliant results in ten years, and I am proud that I am a member of this big family, and I am also dedicating my youth to this big family!

Youth, what a wonderful time! Isn't the reformed group company also youthful? From state-owned enterprises to the tide of restructuring, from single main business to diversified development, the magnificent new office building is about to be completed, the cultural life of employees is rich and colorful, the wages and benefits are increasing year by year, and various honors are frequently reported, which indicates that the company's career is booming!

Looking back on the ups and downs along the way and counting the trophies won by the company's sincere unity, the group company has created brilliant history for decades. For many people, history is just a story of the past, but for those who have witnessed history, we can deeply understand the ups and downs in the process.

The master is a young technical room. Although we are young, we are full of energy and we dare to fight hard. In the next 3-5 years, we will strive to catch up with our brother units, with 30 registered employees, and undertake 2-3 projects every year on average, with an annual output value of 70 million yuan.

Looking forward to the future, I firmly believe that under the leadership of the group company, we will certainly achieve greater glory in the near future!

On June 2017 18, the group company held the 10th anniversary celebration meeting. Representatives of four shareholders, namely Urban Construction Group, Beishi Group, Sany Heavy Industry and Oriental Jiahao, and 24 employees of the group company/KLOC-0 attended the meeting. The meeting was presided over by Liu, Party Secretary of the Group Company. First of all, all the staff visited the honor room of the group company and watched the propaganda film "Building Dreams in the Far East", which aroused the brilliant memories of the participants in 10. Qin Jun, chairman of the group company, delivered a warm speech, and the launching ceremony of the conference with the theme of "Go all the way, thank you, continue to write brilliantly and realize the dream of the Far East" was held at the same time.

The full text of Chairman Qin Jun's speech at the celebration meeting of the 10th anniversary of the reorganization of the group company is as follows:

Dear shareholder representatives and comrades,

Good Morning, everyone! Today, we gather together to celebrate the 10th anniversary of the reorganization of Beijing Urban Construction Far East Group. Here, on behalf of Beijing Urban Construction Far East Group, I would like to express my warm welcome and heartfelt thanks to the shareholders' representatives who have been caring and supporting for many years and have come to attend the celebration meeting! Sincere greetings and high respect to all employees who have made outstanding contributions to the development of Beijing Urban Construction Far East Group in the past ten years!

Ten years ago today, "Beijing Urban Construction Third Construction Development Co., Ltd." held a grand unveiling ceremony in the Great Hall of the People, which marked the transformation of the company from the original state-owned holding enterprise to a diversified joint-stock enterprise. It was this restructuring that opened the prelude for enterprises to move towards market-oriented management enterprises and sounded the clarion call for people in the Far East to realize their dreams.

Ten years, in the long river of history, is only a short moment. However, for the Urban Construction Far East Group, ten years of wind and rain, ten years of hardship, ten years of inheritance and ten years of glory, we have written a development history full of opportunities and challenges, hard work and dedication with wisdom and sweat.

In the past ten years, the development and achievements of Urban Construction Far East Group have condensed the meticulous care and help of leaders at all levels, especially the leaders of Urban Construction Group, the sincere cooperation of shareholders, the hard work of previous senior management teams and the hard work and dedication of all employees.

In the past ten years, the Far East people have made great efforts to govern. The company has gradually developed from a single construction enterprise at the beginning of the restructuring into a comprehensive enterprise group integrating construction, real estate development, home investment, medical services, property management and labor export, and has been moving towards a "first-class and nationally famous" modern management enterprise group.

The development history of Urban Construction Far East Group is the epitome of the restructuring of China's construction enterprises, which not only reflects the hardships and twists and turns of this great cause, but also creates brilliant achievements worthy of history and times in the development tide of perseverance and chasing waves.

Recall the past eventful years! At this moment, our hearts are surging and we feel proud and proud!

In the process of restructuring, we are brave as pioneers, adhering to the spirit that people in the Far East will always strive for the first place, and become one of the first batch of pilot units for restructuring approved by the Beijing Municipal Government. Under the spirit of the document "Opinions on Standardizing the Restructuring of State-owned Enterprises" issued by the State-owned Assets Supervision and Administration Commission and the careful guidance of Urban Construction Group, Urban Construction Far East Group has realized the strategic reorganization and equity diversification of state-owned shares through the management MBO to acquire shares and absorb social capital. The brand-new registered capital of Urban Construction Company III is 1 100 million yuan, and the shares of the company are jointly held by Barry Trust and Investment Co., Ltd. (holding shares on behalf of the management), Beijing Urban Construction Group Co., Ltd., Sany Heavy Industry Co., Ltd., Beijing Jia Min Concrete Co., Ltd. and the Employees' Shareholding Association of Urban Construction Company III. The reform liberated the productive forces and expanded the autonomy of enterprises, thus the development of enterprises entered the fast lane.

After the restructuring, in order to make the enterprise stronger and more than 1000 employees happier, the Far East people began a dream-building process for ten years.

The decade of Far East Group is a decade of continuous development and leap.

In the past ten years, the construction sector has realized the marketing concept of "based on Beijing and radiating the whole country"; In terms of construction capacity, Far East Group has developed from undertaking general housing construction engineering, underground engineering and municipal engineering into a multi-functional construction enterprise capable of undertaking super high-rise buildings, advanced decoration, high-tech parks, high-grade highways and high-grade stadiums. In the past ten years, the income of employees in enterprises has kept increasing year after year.

The real estate development sector has grown from scratch, with an accumulated development area of nearly 2 million square meters and annual sales of nearly one billion yuan. It has successively developed projects such as Yancheng Beiyuan in Changping District, Beijing, Xiangshan International in Zhongxian County, Chongqing, jiayuan in Yiyang, Hunan, and Hefei Jingcheng International, and achieved remarkable results.

In terms of comprehensive strength, the company is a first-class enterprise with national credit, with first-class qualification for general contracting of highway, municipal administration, housing construction and electromechanical installation, first-class qualification for contracting of urban rail transit, highway subgrade, highway pavement, steel structure and decoration, AAA national credit and first-class national archives management, and it is one of the 500 best economic benefit enterprises and one of the 500 largest construction enterprises in China.

After ten years of development, Beijing Urban Construction Far East Group has increased its registered capital to 654.38+500 million yuan by increasing its own profits. In the future, it will surely glow with greater vitality and vigor.

The decade of Far East Group is a decade of system innovation and continuous improvement of organizational structure.

"System determines mechanism, mechanism determines efficiency, efficiency determines benefit, and benefit determines talents". The innovation of system and mechanism is the driving force to promote the progress of enterprises and an important guarantee for the sustainable development of enterprises.

From 2004 to 2007, the company took the opportunity of reorganization and put forward the management requirements for striving to build an innovative enterprise. By constantly adjusting the institutional setup, most government personnel will be adjusted to the front line of marketing and "all-staff marketing" will be implemented; By separating the board of directors, the board of supervisors and the management layer, the three powers of decision-making, supervision and management are gradually separated, further expanding and perfecting the reform results; By encouraging and helping qualified project companies, project departments, branches, business offices and "rent-by-purchase" units to register as market legal person economic entities with independent accounting and self-financing, we will further revitalize the company's assets and move towards establishing a large-scale comprehensive enterprise group with clear property rights and adapting to the market mechanism.

In August, 2007, in order to further meet the market demand, improve the marketing ability in an all-round way, and realize professional operation and diversified development, the company formed a group and changed its name to "Beijing Urban Construction Third Construction Group Co., Ltd.". Since then, the group company has continuously broadened its business ideas, enhanced its independent investment and financing ability, grasped the market opportunity of the rapid development of China real estate while doing fine, excellent and strong construction general contracting and professional contracting, actively explored the external real estate development market while revitalizing its own land, adhered to the management principle of "marketization of talent use, marketization of management, marketization of salary assessment and incentive mechanism", and established an efficient, United and self-motivated business model.

On August 6, 2009, in order to further strengthen the group's investment and financing functions, the group company was officially renamed as "Beijing Urban Construction Far East Construction Investment Group Co., Ltd.". In the same year, the company's management initiated the establishment of "Beishi Investment Group Co., Ltd." to transfer the company's equity held by Barry Trust and Investment Co., Ltd. (entrusted by the company's management) to Beishi Investment Group Co., Ltd., and at the same time, Beijing Oriental Jiahao Investment Co., Ltd. acquired all the equity of Beijing Jia Min Concrete Co., Ltd. and became a shareholder of the company.

In 20 10, in order to further adjust the capital structure of enterprises, improve the investment and financing ability and change the growth mode, the company established the industrial development layout centered on the group headquarters, and built four business sectors: construction, real estate investment, property management and scientific research and development. 20 1 1 put forward the strategic positioning of the group headquarters as a strategic control center, an index (management responsibility target) management center and a fund management center, and adjusted the organizational structure at the beginning of 20 13, further strengthening the construction of the group headquarters, improving the management and control ability of the group headquarters and realizing the centralized management of the group companies.

The decade of Far East Group is a decade of scientific development and a decade of continuous extension of industrial chain.

On the basis of system reform, the company started from improving economic and social benefits and then improving the overall management level of the enterprise, and steadily promoted real estate development and further improved the industrial layout by constantly improving various management systems and moderately contracting construction.

Strengthen construction site management and technical innovation. As the main business sector of the Group, the construction sector has completed more than ten national and provincial key projects 100 in the past ten years, of which dozens have won various national, provincial and ministerial-level high-quality engineering honors, and many projects have become local landmark buildings, overcoming engineering and technical problems such as Qinghai Science and Technology Museum, Xining Suspension Bridge across Huangshui River, Shenzhen-Hong Kong Bridge on East Express Line, South-to-North Water Transfer Project and Chongqing International Convention and Exhibition Center. It has successively won the National Construction Enterprise Management Excellence Award, Beijing Construction Quality Management Award and brug Management Award, and successfully passed the certification of ISO900 1 quality management system, ISO1400/environmental management system and OHSAS 1800 1 occupational health and safety management system, thus becoming a country.

Real estate development has progressed steadily. As the main sector of the Group, the real estate sector actively promotes various tasks and strengthens its management and control capabilities in accordance with the working objectives of "actively financing, speeding up construction, promoting sales and ensuring timely payment". In the past two years, through long-term investigation and market-oriented auction of real estate markets all over the country, the construction and development rights of two plots of land in Tongliang District of Chongqing and Ganzhou City of Jiangxi Province have been obtained, and the real estate development sector of the group company has opened a new chapter.

The real estate industry is booming. In order to improve the industrial layout of the enterprise, realize the group's development planning objectives, revitalize the idle and inefficient real estate such as land and houses owned by the enterprise, and ensure the preservation and appreciation of existing assets, the company also established Beijing Urban Construction Far East Real Estate Investment Management Co., Ltd. In order to develop high value-added industries outside the existing business and further expand the brand and influence of Urban Construction Far East Group, the group acquired Beijing Urban Construction Youth Ditch Hospital and declared it as the Beijing Heping Street Community Health Service Center to provide medical and health services for the community120,000 people.

The decade of Far East Group is a decade of persisting in attaching importance to talents and sustainable development.

Make every effort to build a talent echelon. Adhere to the talent training mode of combining independent training with market-oriented recruitment. Through independent training, Far East Group has gradually formed a talent echelon composed of three generations of management teams and business backbones of various systems. In view of the urgent need for mature talents, enterprises actively recruit talents in a market-oriented way, and 100 more than managers have entered various systems of enterprises to play an important role.

Strengthen staff training and actively build a learning enterprise. In order to further enhance the core competitiveness of enterprises and comprehensively enhance the business skills and management capabilities of employees, the Group established Far East College on 20 12. A lot of training in management skills, business knowledge, business etiquette and management awareness has been carried out, and the comprehensive management ability has been continuously improved.

Through job matching and performance appraisal, we will further promote the implementation of the employment concept of "talent marketization and job professionalization". According to the results of job matching, according to the principles of "different pay for the same job, different pay for the same post" and "pay for the same post, benefit first", the salary and treatment are tilted towards key employees, and those who are not suitable for the company's development, have poor professional quality and do not meet the post requirements are dismissed to avoid the formation of redundant staff; In order to motivate and restrain the general manager to achieve the management objectives according to the post responsibilities, the enterprise conducts quarterly performance appraisal on the general manager and determines the payment of the year-end assessment salary according to the assessment results.

After ten years of development, Beijing Urban Construction Far East Group has become a highland where talents gather and fertile ground for realizing their dreams.

The decade of Far East Group is a decade of keeping pace with the times and taking the lead.

Group companies have vigorously strengthened internal control and introduced a series of effective management measures. Starting with "marketization of operation, specialization of talents, standardization of process", the Group Company focused on performance appraisal and benchmarking management, constantly promoted management optimization, comprehensively improved management and control capabilities, and actively and effectively carried out various tasks.

At the same time, actively learn from advanced experience at home and abroad, absorb the essence of successful enterprise management, and put forward the requirements of "keeping promises, never giving up and focusing on results" for managers, so as to make the enterprise look brand-new; We advocate "centralization and decentralization, and open secret power", adhere to the management mode of "centralization, centralized control and intensive", strengthen the management requirements of "master control, service, guidance and supervision" of organs, further strengthen management, strengthen management and control, and continuously improve profitability.

In the past ten years, despite the constant wind and rain, we have been advancing!

In the past ten years, despite the ups and downs, glory has been with us!

We can confidently say that today's Beijing Urban Construction Far East Group has boarded a higher and broader development platform. Take this opportunity, let's express our heartfelt thanks to leaders at all levels, friends from all walks of life and partners who have always cared about and supported the development of the enterprise with gratitude! Pay high tribute to the old comrades, all employees and your family who have made outstanding contributions to the group!

The achievements of the ten-year restructuring process have been recorded in the glorious history of the development of the Far East Group, and now the Far East Group will set sail.

I've been dreaming for the past ten years! The pursuit of a happy life is the most lasting force to promote the progress of human civilization. It is the dream of all people in China, and also the dream of all employees in Far East Urban Construction to enjoy better education, more stable jobs, more satisfactory income, more reliable social security, higher level of medical and health services, more comfortable living conditions and more beautiful production and living environment.

The next decade will be a decade when dreams come true. Where does the motivation to realize dreams, meet challenges and create the future come from? We can only come from development, improvement, innovation and action.

To realize our dreams, we must unify our thinking, change our concepts and enhance our sense of crisis.

Thought is the forerunner of action. In the final analysis, the gap between us and advanced enterprises is the gap of ideology and the lack of marketization consciousness. At present, the problem of backward ideas has become the biggest obstacle to the development of group companies, and the management of group companies has reached a critical juncture. Middle and senior managers must manage enterprises with a crisis mentality, face up to their own shortcomings, face up to their own shortcomings in execution, and make changes from the heart with the professional manager spirit of "keeping promises, never giving up and focusing on results", strengthen rigid management and enhance execution.

To realize your dream, you must clear your mind, define your goals and speed up your development.

In the future, it is the overall development goal of the group company and our "Far East Dream" to "drive development with investment, promote construction with development, realize the integration of investment, development, construction and operation through the extension and diversified development of the industrial chain, and strive to build Urban Construction Far East Group into a modern management enterprise group with knowledge-intensive and coordinated development". We in the Far East are full of confidence in the realization of this dream.

Around this general goal, we should aim high, seek truth from facts and make solid progress step by step. To this end, the board of directors of the company has formulated a three-year development strategic plan of 20 14-20 16.

The real estate investment sector should revitalize all the idle and inefficient land, houses and other real estate of the group company within three years to maintain and increase the value; At the same time, focusing on economic benefits, optimizing the allocation of resources, scientifically managing affiliated enterprises, and gradually building and developing into a home ownership group under the group company; Strive to realize the construction of the city's Far East Building within three years; In the first year, Urban Construction Far East Hospital achieved normal business objectives and ensured self-sufficiency. In the second year, we began to guarantee to create benefits and realize returns. Fully responsible for the property management of real estate development projects, improve the level of property management, and enhance the brand and quality of real estate projects. In terms of scientific research and development, we should vigorously carry out scientific research and development to form a supporting force for real estate development and construction, especially in terms of national quality awards. In terms of overseas investment business, investigate and establish the investment direction, and strive to achieve a major breakthrough in overseas investment projects as soon as possible.

In the future, the salary of employees in group companies and various sectors will refer to the same industry standards, adhere to the principles of "marketization and professionalism" and "different salaries for the same post and different salaries for the same post", and build a reasonable salary structure. At the same time, the annual growth rate of total wages is not less than 10%, and strive to maintain the salary standard of key talents in various industries at the upper-middle level in the same industry.

To realize the dream, we must strengthen measures and promote it systematically, so as to ensure the realization of the goal.

The group company will focus on "further optimizing the management and control mode of the group, enhancing the financing ability, changing the growth mode, improving the industrial layout, developing real estate development in a personalized and high-quality direction, realizing the standardization and specialization of general contracting and professional contracting of moderate scale construction, unswervingly seeking diversified development, and looking overseas for high-yield investment opportunities; Establish competitive advantage through high quality and differentiation, strive to realize the combination of industrial operation and capital operation, promote the sustained and healthy development of the Group, promote the transformation of the functions of the Group's headquarters from business-oriented to strategic, and ensure the healthy and orderly development of all industrial sectors of the Group.

In terms of system and mechanism, according to the requirements of modern enterprise system, standardize the operation and management system of the group, promote the complete separation of "three meetings and one floor", solve the unreasonable and irregular situation of decision-making, operation and supervision from the system, strengthen the decision-making and master control ability of the board of directors and the supervision role of the board of supervisors, implement the management responsibility of the management level, and establish a decision-making mechanism with sensitive response, efficient decision-making, strong execution and supervision, and moderate centralization and decentralization.

In personnel training, we should pay attention to the rational allocation of talents, build an intellectual and technology-intensive workforce, and employ not only people who have resources and can use them, but also people who are good at doing things and don't have accidents, so as to gradually form a scientific and reasonable talent structure. Do a good job of managing 30% of the backbone, that is, leadership, in accordance with the "Three Seven Principles", and then use 30% of the leadership to drive 70% of the employees to improve work efficiency and give full play to the role of human resources at all levels.

In plate construction, strengthen plate construction and achieve coordinated development. Strengthen the independent marketing of the construction sector, promote intensive management and control, strengthen the comprehensive management of operation, finance, technology, quality and safety, strengthen the operational management and control ability with the real estate development sector that won the market on the spot, improve the comprehensive management level, accelerate the "three intensive changes" and promote the efficient operation of real estate development; Expand ideas and innovate measures in the field of real estate investment to ensure the preservation and appreciation of existing assets and strive to achieve rapid development.

In capital operation, it is necessary to formulate effective financing strategies, broaden financing channels, expand financing scale and enhance independent financing ability; Revitalize existing assets, make good use of incremental assets, and tap and enhance the intrinsic value of assets; Further standardize foreign investment and equity participation, and form a reasonable, sustainable and stable industrial chain. Actively prepare for the listing of the group, build a capital operation platform, optimize the industrial structure, promote industrial development and realize capital appreciation through effective capital operation.

In the construction of corporate culture, it is necessary to enhance the vitality of enterprises, transmit positive energy, enhance cohesion, promote mutual coordination and support, and create a corporate culture environment of mutual assistance and progress. Give full play to the role of Party committees, trade unions and Communist Youth League committees in promoting enterprise economic construction, strengthen work style construction, and promote honesty and self-discipline. At the same time, the trade union of the group company will extensively carry out cultural and sports activities, enhance employees' sense of belonging, unify their thinking, gather strength, realize development and create benefits with "one voice, one action".

Far East College will continue to carry out various forms of business knowledge and management knowledge learning, create a good learning atmosphere, improve the training system, adopt effective institutional means and incentive measures, provide support and help for individuals and organizations to learn, stimulate enterprising consciousness and enthusiasm for innovation, and rely on learning to promote personal career development and achieve organizational goals, so that the group will always maintain vigorous vitality.

Standing on the historical node of the tenth anniversary of the restructuring, reviewing the earth-shaking changes of the Far East Group in the past ten years, we have every reason to be proud of the glorious history of the Far East Group; Looking forward to a bright future, we have enough confidence and strength to push Far East Group to a more brilliant tomorrow. Today's 10th anniversary celebration of reorganization will be a new starting point for the bright future of Far East Group!

Far East Group will, in accordance with the requirements of Scientific Outlook on Development and under the guidance of the great rejuvenation dream of the Chinese nation, adhere to the corporate vision of "one enterprise, one future", forge ahead in unity, work hard, realize marketization of operation, specialization of talents, modernization of management, innovate in management, develop in innovation, and create an enterprise atmosphere of "orderly work like the army, education like the school, and warm life like the family".

We firmly believe that through the unremitting efforts of all staff, the future of Urban Construction Far East Group will be more brilliant!

Finally, I sincerely wish you good health, smooth work and all the best! Thank you!

Expansion: reorganization mode

1, overall reorganization

Overall restructuring refers to the overall transformation into a standardized enterprise that meets the requirements of modern enterprise system based on all assets of the enterprise and through asset reorganization. Overall restructuring is particularly suitable for small and medium-sized enterprises.

2. Partial reorganization

Partial reorganization refers to the reorganization of enterprises with partial assets, and the establishment of new enterprises by absorbing investment from other shareholders or transferring part of equity, and the original enterprises will remain. Partial reorganization is more suitable for the reorganization of large enterprises, especially when establishing a joint stock limited company.

The form of enterprise reorganization

1, company system

Corporate enterprises mainly refer to limited liability companies and joint-stock companies, and limited liability companies also include wholly state-owned companies.

1) Limited liability company: an enterprise legal person established according to the Company Law. Shareholders are liable to the company to the extent of their capital contribution, and the company is liable to its debts with all its assets.

A wholly state-owned company refers to a limited liability company established by a state-authorized institution or a state-authorized department. Wholly state-owned companies are not the main direction of establishing a modern enterprise system, and their scope of application is very narrow. For example, it involves the national economy and people's livelihood, state monopoly (military industry) and non-competitive industries, and general competitive industries are not suitable for restructuring into wholly state-owned companies.

2) Limited by Share Ltd.

A joint stock limited company refers to an enterprise legal person established in accordance with the Company Law, in which all its capital is divided into equal shares, shareholders are liable to the company to the extent of their shares, and the company is liable to the company's debts with all its assets.

Industrial enterprises, high-tech enterprises and other capital-intensive and technology-intensive enterprises are suitable for limited liability companies. Among them, enterprises with large scale, advanced technology, good benefits and good development prospects can set up a joint stock limited company with the approval of the authorized department of the State Council or the provincial people's government to raise more development funds through listing.

2. Joint stock cooperative enterprises

Joint-stock cooperative system is based on cooperative system, absorbs some practices of joint-stock system, and implements the enterprise organization form with trade unions and capital of enterprise employees as the main body.

Labor-intensive enterprises, such as restaurants, hotels and other small and medium-sized commercial enterprises, are suitable for joint-stock cooperative system, because employee labor cooperation is the basis for creating wealth, and the combination of benefits and capital is not obvious, but it is obvious and flexible.

3. Partnership enterprises

A partnership enterprise refers to an organizational form in which all partners enter into a partnership agreement, * * * jointly contribute, operate in partnership, * * * enjoy the benefits, * * * bear the risks, and bear unlimited joint and several liability for the debts of the partnership enterprise. A partnership enterprise does not have legal person status. Only two or more natural persons with unlimited liability need to be partners, sign a partnership agreement, have the actual capital contribution of each partner, have the name of the enterprise, have business premises and the necessary conditions for engaging in partnership operation.

4. Wholly-owned enterprises

A sole proprietorship enterprise refers to a business entity invested by a natural person, and its property belongs to the investor, who shall bear unlimited liability for the debts of the enterprise with his personal property. The requirements for the establishment of a sole proprietorship enterprise are relatively low, and a natural person can do it. Some small-scale service industries and small-asset repair enterprises can choose this form for restructuring.

5. Mutual transfer between domestic and foreign-funded enterprises.

The mutual transformation of domestic and foreign-funded enterprises refers to the transformation of domestic enterprises into foreign investment (Sino-foreign joint ventures, Sino-foreign cooperation and wholly foreign-owned) or foreign-invested enterprises (Sino-foreign joint ventures, Sino-foreign cooperation and wholly foreign-owned) into domestic enterprises.

Domestic-funded enterprises can transform their original enterprises into foreign-invested enterprises by transferring equity to foreign parties or absorbing overseas funds. The new foreign-invested enterprises will continue to inherit the rights and obligations of the original enterprises. The transformation of domestic-funded enterprises into foreign-invested enterprises requires the approval of foreign economic relations and trade management departments. However, it should be noted that if the organizer or shareholder of the original enterprise is a self-supporting institution, legal entity, trade union organization or natural person, it cannot be regarded as a new Chinese shareholder of a foreign-invested enterprise.

Foreign investors in foreign-invested enterprises no longer hold the equity of the enterprise through equity transfer, and can transform the foreign-invested enterprises into domestic-funded enterprises with the approval of the former foreign economic and trade administrative departments.

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