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在2004年国企产权大讨论中，许多参与讨论的朋友认定，国企产权改革的目标就是保值增值，并将之作为判断国企产权改革是否成功的依据。 但笔者却提出，中国的国企改革问题一定要置于市场经济转轨的框架下来考虑，国企产权改革的目标其实不是单一性，而是综合性的(或者说是追求社会总福利的最优)，如合理配置社会资源、维持社会稳定、提高国有企业运营效率以及最大限度的保护包括参股股东在内的所有者的权益，可以说都是加快市场经济转轨环境下的国企改革的重要目标。事实上，在大多数情况下，在许多地方，发展常常是国企改革所追求的的第一目标，社会稳定
In the 2004 state-owned property rights discussion, many friends who participated in the discussions concluded that the goal of property rights reform in state-owned enterprises is to preserve and increase their value as the basis for judging the success of property rights reform in state-owned enterprises. However, the author argues that the issue of state-owned enterprise reform in China must be placed under the framework of a market economy transition. The objective of property rights reform in state-owned enterprises is actually not unity but comprehensive (or the pursuit of the optimal social welfare) Such as rational allocation of social resources, maintaining social stability, improving the operational efficiency of state-owned enterprises and protecting the rights and interests of the owners, including shareholders at large, can all be regarded as an important goal of accelerating the reform of state-owned enterprises under the circumstances of a market economy transition. In fact, in most cases, in many places, development is often the first goal pursued by SOE reform and social stability