Supply-side structural reform is an important strategy to promote China’s economic restructuring at present. The capital market has always played a significant role in opening up, accelerating and improving the economic reforms in major areas. In recent years, especially since the CSRC proposed to give better play to the role of merger and acquisition in resources allocation, in order to serve the supply-side structural reforms and support the development of real economy in 2017, regulators have constantly encouraged relevant enterprises to carry out mergers and acquisitions with market-based means while strengthening information disclosure and risk disclosure. The surging mergers and acquisitions in the capital market are pushing forward supply-side structural reforms with unprecedented vitality. Besides, merger and acquisition have also become an important method to promote supply-side structural reforms and realize industrial transformation and upgrading. Historical experience shows that merger and acquisition have effectively pushed the connotative development of capitalist industrialization. However, China has never experienced massive mergers and acquisitions, and problems such as overcapacity and low efficiency that arise in economic development have also gradually built up, hindering economic development. In the period of further promoting supply-side structural reforms, we should study how to clarify the relationship between the structural reform and merger and acquisition, and encourage massive mergers and acquisitions in the capital market to push forward the supply-side structural reform in an orderly fashion to support real economy development. This week, Professor Liu Zhibiao, Dean of Yangtze IDEI, held discussions with relevant experts and scholars on the topic “Supply-side Structural Reform and Massive Merger and Acquisition”.
