近年来国有企业高价收购非国有企业股权的案例屡见不鲜,由于当前不完善的法律法规环境、缺少监管的评估过程和不规范决策隐含的利益输送风险,收购过程中往往以不评估或不实评估为手段进行高价收购,收购效益并未得到明显体现,反而引发国有资产流失等问题。而在国企收购海外资产的过程中,高价收购导致境外资产流失的风险更是日益显现。一些经济专家因此建议禁止国有企业收购非国有资产。笔者认为,从推进国企改革和国有企业健康发展的角度,国企收购非国有资产不应被禁止,但是控制并购风险必须通过完善对收购行为的法律制度约束、严格评估机制、加强全过程监管等手段阻隔利益输送空间,防范和控制国有资产流失风险。 In recent years, the case of state-owned enterprises acquiring non-state-owned enterprises at high prices is not uncommon. Due to the current imperfect laws and regulations, the lack of supervision risks and the implied benefits of non-standard decision-making, the acquisition process often fails to evaluate As a means of high-priced acquisition, the acquisition efficiency has not been clearly reflected, but lead to the loss of state-owned assets and other issues. In the course of the acquisition of overseas assets by state-owned enterprises, the risk of high-value acquisitions leading to the loss of overseas assets is increasingly apparent. Some economists therefore suggested that state-owned enterprises be prohibited from acquiring non-state assets. In my opinion, the state-owned enterprises should not be prohibited from purchasing non-state-owned assets from the perspective of promoting the reform of state-owned enterprises and the sound development of state-owned enterprises. However, the risk control of mergers and acquisitions must be restrained by improving the legal system of acquisitions, strictly evaluating the mechanism and strengthening supervision over the whole process Prevent interest transfer space, to prevent and control the risk of loss of state-owned assets.