On September 3, 2011, the " High-Level Seminar on State-owned Enterprise Reform and Yuchai's Innovation Practice " was held in Beijing Friendship Hotel. The seminar pointed out that 2011 is the first year of the “Twelfth Five-Year Planâ€. Summing up the construction achievements and reform experience of the “Eleventh Five-Year Plan†and better serving the development of the “Twelfth Five-Year Plan†is to deepen reforms and transform economic development. Ways to implement the concrete embodiment of the scientific concept of development. We will discuss the problems in the reform of state-owned enterprises, explore the direction of future state-owned enterprise reforms, and analyze the institutional breakthroughs and achievements of state-owned enterprise reforms in innovative cases to create a space and atmosphere that are more conducive to the exploration of state-owned enterprises. The Guangxi Yuchai Group established in 1951, after 60 years of development, has become one of the leading enterprises in China's machinery industry. In particular, during the “11th Five-Year Plan†period, Yuchai was keen on reforms and bold explorations. It carried out innovations in the organizational structure, systems, and mechanisms of the company and created a “Yuchai phenomenon†that has a wide impact on the entire society. Yuchai’s new goal is to create a 100 billion yuan enterprise at the end of the 12th Five-Year Plan. As a model enterprise for the reform of state-owned enterprises in China, it is of great significance to further sum up Yuchai’s reform exploration, reform of state-owned enterprises in China, and industrial development of China’s machinery industry. China's economic system reform magazine president Mark pointed out that the current emergence of some areas of the phenomenon of the country's retreat has caused deep concern in all walks of life. In addition to state-owned enterprises that are linked to the country’s economic lifeline and safety lifeline, other state-owned enterprises should speed up the establishment of a modern enterprise system, and then go up to the depth of equity multiplexing. In this way, our country’s state-owned enterprises can truly become the main players in the market competition. Only in this way can we truly raise the core technology level, can we truly own core technologies, can we truly participate in international competition, and we can take a place in the international arena. Yuchai’s state-owned enterprise reforms have achieved some breakthroughs and remarkable results, but there is still much room for exploration. Through in-depth analysis of Yuchai’s reform case, it put forward constructive and forward-looking opinions on the problems and institutional constraints in the reform, so as to promote the continuous deepening of China's state-owned enterprise reform. In the theme report of "Review and Reflection on the Innovation and Practice of Yuchai Group's "Eleventh Five-Year Plan"" by Yu Ping, Chairman of Yuchai Group's Board of Directors, Fuping summarized several of Yuchai's rapid development during the "11th Five-Year Plan" period. Key: First, as a state-owned enterprise, the channels of communication between government and enterprises are unblocked; second, professional talents are cultivated to promote technological innovation; third, the main product chain is strengthened; and multiple industrial clusters are built; fourthly, the institutional mechanism is perfected and the management foundation is consolidated; Build a corporate culture concept that promotes "green development, harmony and mutual benefit." The “Eleventh Five-Year Plan†period is a key period for Yuchai Group to adjust its development strategy, improve its industrial layout, and create a new situation that will accelerate the upturn. In the past five years, Yuchai experienced the “threefold pressure†of the international financial crisis, national governance regulation, and vicious price competition in the industry. Yuchai’s business structure has improved and the operating efficiency has improved steadily through related work such as industrial layout adjustment, industrial resource integration, and industrial structure optimization. Ascension improves survivability. Focusing on the reform of state-owned enterprises and the reform and innovation practice of Yuchai Group, the honored guests presented their brilliant views. According to Gao Shangquan, honorary president of the China Economic System Reform Research Association, Yuchai’s state-owned enterprise reforms are of significance to the country. If state-owned enterprises can explore reforms and innovations like Yuchai, there is hope. He pointed out that Yuchai’s state-owned enterprise reform and innovation practice has three backgrounds: First, Yuchai has a good situation today that depends on reform and opening up; Second, Yuchai does not have a monopoly interest, but depends on competition for survival and development; Third, Yuchai is not in large cities. Therefore, the development of Yuchai is not easy. And Yuchai’s “Twelfth Five-Year Plan†has created a leading domestic and internationally-recognized one-billion-yuan enterprise with heavy tasks. The key lies in reform. Whether the government or the enterprise must have the greatest courage and determination to comprehensively advance reforms. Zhang Xiaoyun, vice president of the China Federation of Machinery Industry, believes that each stage of the reform and opening up and every process of Yuchai has kept up with the rhythm, always standing at the forefront of reform and opening up, making Yuchai a small place in Yulin from small changes. From large to strong, it has played a leading role in promoting China's internal combustion engine industry and construction machinery industry, as well as other related industries. Wang Qiang, deputy director of the Department of Structural Reform of the National Development and Reform Commission, pointed out that since the reform and opening up more than 30 years ago, the state-owned enterprise reform has made great progress and achievements, but lack of institutional guarantees for the harmonious development of scientific development, some reforms in key areas are not in place, and further reforms need to be accelerated. . For example, the progress of reforms in some monopoly industries is slow. The construction of a modern enterprise system is lagging behind. The state-owned assets management system needs to be further improved, and it is necessary to improve the preservation and appreciation of state-owned assets. Li Jun, director of the Enterprise Management Office of the State-owned Assets Supervision and Administration Commission of the State Council, believes that the brilliant achievements of the Yuchai Group during the "Eleventh Five-Year Plan" period through bold exploration give five implications to the development of state-owned enterprises: First, the advanced culture and development philosophy is Lead the key to the rapid development of Yuchai Group, and lead the industry in sustainable development. Second, lay a solid foundation for internal management and lay a solid foundation for the accelerated development of the company. Third, we must be committed to reform to provide a strong impetus for the continued development of the company. Adhere to scientific and technological innovation, and cultivate core competitiveness for the company. Fifth, pay attention to brand cultivation, build Yuchai Group as a first-class enterprise in the industry, and have an important influence in the international community. At the seminar, Yulin City Deputy Mayor Luan Jiajun, on behalf of the Yulin Municipal Government, stated that the Yulin Municipal Government will continue to support Yuchai’s corporate development and support Yuchai Group’s restructuring. Prof. Chang Xiuzier, Professor of the Macroeconomic Research Institute of the National Development and Reform Commission, has long studied corporate monopolies and property rights reforms. His judgment is that the important contents and links of reforms in the state-owned enterprise reform have not been put in place. They are embodied in four aspects. First, state-owned capital is competitive. The distribution of the fields is still too large and too large, and in recent years there has been an intensified trend in some industries. Second, the governance structure of state-owned enterprises is still not perfect. Third, the reform of state-owned monopolistic industries has not made substantial progress, especially like railways and salt. Industry and other monopolistic departments have not yet been touched. The degree of government intervention in the market and the manipulation of economic life is still relatively serious in some aspects. Fourth, the influence of certain barriers in vested interest groups on the reform of state-owned enterprises is still relatively large. The situation is worrying. Xing Min, deputy chairman of the China Internal Combustion Engine Industry Association, pointed out that Yuchai has a certain influence on the reform of the enterprise system and mechanism of the internal combustion engine industry as a whole. The development of Yuchai shows that only by continuously changing the mode of production, adjusting the industrial structure, focusing on independent innovation, and focusing on talent cultivation can companies continue to develop. Yuan Xucheng, editor-in-chief of the China Economic System Reform Society, summarized the seminar on behalf of the organizers. He pointed out that the Yuchai Group has set a benchmark for local state-owned enterprises in China, whether it is the reform of the enterprise system or the management of the internal mechanism of the enterprise. Yuchai provided a vivid example for the reform of state-owned enterprises in China, especially the reform of local state-owned enterprises. Yuan Xucheng believes that the current outstanding problem in the reform of state-owned enterprises in China is that most companies have carried out or are undergoing reforms in the governance of modern enterprise systems, and established board of directors and board of supervisors. However, in fact, due to the constraints of the state-owned sole- Really realize modern corporate governance in a true sense. From the 1950s to the present, Yuchai has developed into a benchmarking enterprise in the machinery industry. Yuchai has made a lot of effective reforms in the areas of industrial positioning, talent management, and establishing the group management and control model. The company's structure has been well adjusted, operating efficiency has steadily improved, and the engine has been promoted. The business sectors such as construction machinery are developing rapidly and healthily. Through in-depth analysis of Yuchai’s reform case, the seminar provided constructive and forward-looking opinions on the problems and institutional constraints in the reform, and promoted the continuous deepening of the reform of China's state-owned enterprises and the implementation of corporate governance in the true sense of equity diversification. 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