国有企业是我们党和国家发展的重要物质基础和政治基础。党的十八大以来，以习 近平同志为核心的党中央高度重视国有企业改革发展，作出一系列理论创新和科学论断， 把国有企业改革逐步向纵深推进。发展混合所有制经济是我国经济体制改革的核心内容 之一。党的十八届三中全会掀起新一轮混合所有制改革（以下简称“混改”）的序幕。 混改是一项复杂的系统工程，着眼于我国混改的实际过程，从“摸着石头过河”到“百 家争鸣”总结出一套基本经验，混改取得了巨大进步。从混改的进度来看，央企混改的 数量覆盖面有了较大突破，但地方国企混改进度滞后，2019 年至 2020 年进入提速期。 从混改的质量来说，大部分国企混改目前只实现了“形式上的混”，成效难以显现，离 公众预期仍有不小差距。下一步混改将从推数量转变为提质量，从“怎么混”进入“怎 么改”的换挡期。 本文第一章，纵向介绍我国发展混合所有制经济的历史沿革，简要概述国外重点国 家混合所有制经济的基本情况，阐释了与混合所有制相关的产权理论、现代企业制度理 论和公司治理理论，总结归纳了当前我国大部分国有企业开展混合所有制改革的基本思 路；第二章，聚焦广东省国资委旗下的一家三级国有独资物业管理行业 G 公司的战略目 标和基本情况，分析其开展混合所有制改革的必要性和目的；第三章，选取中国建材、 东航物流、特发物业三家企业作为案例分析对象，在剖析它们典型经验做法的基础上， 从内外部环境等维度建立与 G 公司的关联度比较，参考他们的成功经验；第四章，论述 相关理论在 G 公司的运用，介绍目前国内常用的几种混改模型，通过运用个别访谈、问 卷调查等方法，确定 G 公司的混改模式，并提出其实施过程中可能面临的问题和解决思 路；第五章，在综合分析的基础上设计 G 公司混改方案，明确其混改的基本原则和整体 思路，从股权结构设置、引入战略投资者、设计员工持股方案和完善公司治理结构等维 度建立 G 公司的混改模型。 本文通过对我国混合所有制问题的研究，聚焦 G 公司的基本情况，明确其混改模式， 有针对性地制定混改方案，推动其优化资本布局，建立现代企业制度，激发企业活力， 实现做强做优做大国有企业的目标。G 公司成功打造标杆企业，对其他同质同类的国有 企业混改具有一定的借鉴意义。 关键词：混合所有制；改革；国有企业II ABSTRACT State-owned enterprises are the important material and political basis for the development of our Party and our country. Since the Eighteenth National Congress of the CPC, the CPC Central Committee, with Comrade Xi Jinping as its core, has attached great importance to the reform and development of state-owned enterprises, made a series of theoretical innovations and scientific judgments, and gradually promoted the reform of state-owned enterprises in depth. The development of mixed ownership economy is one of the core contents of China's economic system reform. Third Plenary Session of the 18th CPC Central Committee initiated a new round of mixed ownership reform (hereinafter referred to as "mixed reform"). Mixed modification is a complex system engineering. Focusing on the actual process of mixing reform in our country, we summed up a set of basic experience from "crossing the river by touching the stones" to "contending among hundreds of schools of thought", and made great progress in mixing reform. From the perspective of the progress of mixed reform, the number and coverage of mixed reform of central enterprises have made great breakthroughs, but the improvement of mixed reform of local state-owned enterprises lags behind, and will enter an acceleration period from 2019 to 2020. In terms of the quality of the mix-up, most of the state-owned enterprises only achieve "formal mix-up" at present, and the results are difficult to show, which is still far from the public expectations. The next step of mixing will be from pushing quantity to improving quality, from "how to mix" to "how to change" shift period. The first chapter of this paper introduces the history of the development of mixed ownership economy in China, briefly summarizes the basic situation of mixed ownership economy in foreign key countries, explains the property rights theory, modern enterprise system theory and corporate governance theory related to mixed ownership, and summarizes the basic ideas of mixed ownership reform of most state-owned enterprises in China. The second chapter focuses on the strategic objectives and basic situation of a three-level state-owned property management industry G company under SASAC of Guangdong Province, and analyzes the necessity and purpose of mixed ownership reform. In the third chapter, three enterprises, namely China building materials, China Eastern Airlines logistics and tefa property, are selected as the case analysis objects. On the basis of analyzing their typical experiences and practices, the paper establishes the correlation degree comparison with G company from the dimensions of internal and external environment, and refers to their successful experience. The fourth chapter discusses the application of relevant theories in GIII company, introduces several commonly used mixed reform models in China, determines the mixed reform mode of G company by means of individual interview and questionnaire survey, and puts forward the possible problems and solutions in the implementation process. In the fifth chapter, based on the comprehensive analysis, the paper designs the mixed reform plan of G company, clarifies the basic principles and overall thinking of the mixed reform, and establishes the mixed reform model of G company from the aspects of equity structure setting, introducing strategic investors, designing employee stock ownership scheme and improving corporate governance structure. Based on the research of mixed ownership in China, this paper focuses on the basic situation of G company, clarifies its mixed reform mode, formulates the mixed reform scheme, promotes the optimization of capital distribution, establishes the modern enterprise system, stimulates the vitality of enterprises, and realizes the goal of becoming stronger, better and stronger. G company has successfully built a benchmark enterprise, which has a certain reference significance for the mixed reform of other homogeneous and similar state-owned enterprises. Key words: Mixed ownership; Reform; State-owned enterprisesIV 目 录 摘要.............I ABSTRACT...II 第一章 绪论...1 1.1 研究背景.............................1 1.2 研究意义.............................3 1.3 国内外研究现状.................3 1.3.1 国内混合所有制研究现状........................ 3 1.3.2 国外混合所有制研究现状........................ 5 1.3.3 文献综述...................... 6 1.4 相关理论基础.....................7 1.4.1 产权理论..................... 7 1.4.2 现代企业制度理论..... 8 1.4.3 公司治理理论............. 9 1.5 国企混改实践经验综述.....9 1.6 研究方法...........................10 1.6.1 文献研究法............... 10 1.6.2 案例分析法............... 10 1.6.3 访谈法........................11 1.6.4 问卷调查法................11 1.7 研究框架...........................11 第二章 G 公司混合所有制改革的必要性...............12 2.1 G 公司的战略目标............12 2.2 G 公司的基本情况............12 2.3 G 公司混改的必要性和目的...........................13 2.3.1 G 公司混改的必要性.13 2.3.2 G 公司混改的目的.....14 2.4 本章小结...........................15 第三章 相关案例分析及关联比较...........................16V 3.1 相关案例分析...................16 3.1.1 中国建材................... 16 3.1.2 东航物流................... 16 3.1.3 特发物业................... 17 3.2 与案例企业关联比较........18 3.3 本章小结...........................19 第四章 G 公司混改模式选择....21 4.1 相关理论在 G 公司混改中的运用..................21 4.1.1 产权理论................... 21 4.1.2 现代企业制度理论... 21 4.1.3 法人治理理论........... 22 4.2 企业混改常用的几种模式23 4.2.1 上市模式................... 23 4.2.2 引资引智模式........... 23 4.2.3 员工持股模式............ 24 4.3 确定 G 公司混改的模式...25 4.3.1 对 G 公司个别访谈的基本情况..............25 4.3.2 对 G 公司问卷调查的基本情况..............26 4.3.3 确定 G 公司混改的模式...........................26 4.3.4 引入战略投资者........ 27 4.3.5 完善法人治理结构... 27 4.3.6 实施员工持股计划... 28 4.4 G 公司实施混改面临的问题和解决思路.......28 4.4.1 股权比例的设置....... 28 4.4.