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China is a major country in building materials, but not a strong one in this field. Our country is the largest producer and consumer of building materials in the world, but its overall technical level still lags behind that of developed countries. Taking cement as an example, China accounts for nearly half of the world’s cement production capacity, but it lags behind developed countries and regions in terms of technical level, degree of specialization, production methods, and marketing strategies. Enhancing regional integration, reducing fierce competition, and establishing a healthy market are urgent needs facing the cement industry. Therefore, the building materials industry, particularly the cement industry, is facing a new round of consolidation. During the integration process, local large enterprises and foreign giants began a process of joint restructuring. While companies such as Lafarge and Holcim have stakes in or control leading regional cement manufacturers in China, central state-owned enterprises like China National Building Materials Group and China National Nonferrous Metals Corporation have also gone public and joined the competition. Intensifying restructuring and integration, establishing capital operation platforms, and promoting the optimal allocation of resources are effective ways for state-owned enterprises, especially those under the central government, to enhance their international competitiveness. China National Building Materials Group Corporation is a management company in the building materials industry established in 1984 with the approval of the State Council. In 2003, it became a central enterprise under the direct administration of the State-owned Assets Supervision and Administration Commission of the State Council. It is a key player in China’s building materials industry and is regarded as “the most dynamic company in the global building materials sector.” Joint restructuring and capital operations are the two key factors behind the success of China National Building Materials Group Corporation. Affected by the international financial crisis, China’s economic situation, particularly that of the industrial sector, has changed significantly; the economy is showing a downward trend, with the real economy being greatly impacted by the international financial crisis. In addressing this international financial crisis, state-owned enterprises, particularly those under central government control, must play an important role and shoulder the historical responsibilities entrusted to them by the Party and the **. Therefore, objectively, central state-owned enterprises are required to possess strong capabilities of their own. The approach adopted by China Building Materials Group Corporation for joint restructuring provides a valuable reference for central state-owned enterprises to grow and strengthen themselves. One lesson learned: Joint restructuring adheres to the four principles of \"strategy, efficiency, synergy, and risk.\" First, it must comply with the relevant industrial policies, as well as the company’s strategic goals, target regions, and core business areas ； Second, the restructured enterprise must have a certain scale, efficiency, and potential value ； Third, the restructured enterprise must be able to create synergies with the group’s existing companies ； Fourth, the risks must be controllable and bearable. Second lesson: Regional cooperation achieves a win-win outcome for all parties. Regional cooperation should be achieved on the premise of fair market prices; in joint restructurings that prioritize one’s own interests, opportunities should be provided to the enterprises undergoing restructuring as well as to other enterprises in the region, thereby achieving a win-win outcome for all. Foster healthy competition within the industry and drive its sound development. Third lesson: Improve integration levels through “five transformations + KPI management”. On the basis of strategic and cultural alignment, management integration in jointly restructured enterprises emphasizes finance as the guiding principle, performance as the goal, and centralized and unified management as the core. “The “five modernizations” refer to integrated management, standardization, institutionalization, process optimization, and digitalization ； “A “KPI” is a comprehensive set of key performance indicator control systems. Achieve economies of scale through centralized marketing, finance, procurement, technology, and investment decision-making.