从国有资本并购上市公司看国有资本运营的积极因素

Viewing the Positive Factors of State-owned Capital Operation from State-owned Capital M&A of Listed Companies

国有企业是承载着国家实现经济目标的重任,担系着国家健康运转的重要职责。近年来国家提出国有企业和民营企业的混合所有制改革方针,鼓励国有资本投资民营企业。2018年以来国内大量的国有资本通过并购上市公司的资本运作模式,完成改革。这些并购是基于怎样的战略目的和商业逻辑,大量的并购给国有企业和上市公司带来了哪些效益和风险?并购会给市场经济体制带来怎样的挑战和机遇?本文将从国有资本并购上市企业的运作模式探究,通过对国有资本并购上市公司背后的动因及模式分析国有资本的运作模式背后的积极因素。

State-owned enterprises is a great responsibility to carry the country's economic goals,and it is important to the health of the country.In recent years,the state has put forward the policy of mixed ownership reform for state-owned and private enterprises,encouraging state-owned capital to invest in private enterprises.Since 2018,a large amount of state-owned capital in China has completed the reform through merger and acquisition of the capital operation mode of listed companies.What are the strategic purposes and business logic of these mergers and acquisitions?What benefits and risks do a large number of mergers and acquisitions bring to state-owned enterprises and listed companies?What challenges and opportunities will m&a bring to the market economy?This paper will explore the operation mode of state-owned capital merger and acquisition of listed enterprises,and analyze the positive factors behind the operation mode of state-owned capital by analyzing the motivation and mode of state-owned capital merger and acquisition of listed companies.