Research on Stock Adjustment Model of Chinese Pharmaceutical Industry in the Reforming Process of Mixed Ownership

Abstract

The aim of Chinese pharmaceutical industry restructuring and upgrading is to achieve the transformation from incremental expansion to the stock adjustment road. As the mail strength of industrial restructuring, pharmaceutical companies of state-owned and state-holding are the main object of pharmaceuticals industry mixed ownership reforms. Basing on the analyzing of mixed ownership reforming process and industry restructuring, the paper discussed the impacting factors of Chinese pharmaceutical restructuring with the empirical analysis of Panel Data model. Result display that the state-owned companies perform the more quantity, extensive mode of production, which need the stock adjustment model. Restructuring road include the incremental and stock adjusting, micro-stock adjusting, social capital participating and state-owned capital exchange building.