Abstract: On investigation of the paper-pulp and panelboard enterprises in Fujian province, exercising the private equity theory and contract theory, The paper reveals motive、pattern and obstacles of the paper-pulp and panelboard enterprises implementing forestry-paper integration strategy more than 40 years, and brings up motive mechanisms of the paper-pulp and panelboard enterprises implementing forestry-panelboard-paper integration strategy to maximize revenue, and analyses the six main model and features of the mechanism of the paper-pulp and panelboard enterprises implementing, points out 3 deep-seated reasons that hinds the paper-pulp and panelboard enterprises to implementing forestry-panelbord-paper integration strategy.