Abstract: Since the emergence of M&A activities in 1980's, only a few enterprises of our Country have succeeded while most of those which expand irrelevantly have failed. Therefore, these enterprises need shrinking their operations and  come back to their core line of business. The state-owned enterprises in some industries may have either low asset-efficiency or insignificant economic scale. So it's quite necessary for our country's enterprises to conecntrate their capital-operations.

Key words: enterprise, capital-operation；conecntraiting strategy