股权管制与投资自由化——基于外资控股的效应评价分析

无论是发达国家还是发展中国家，实际上都存在着对外资控股的管制，区别只是在于程度和进度不同而已。从发展的趋势和潮流来看，股权开放都需经过从禁止控股一放松管制一投资自由化三个阶段。投资自由化只是一个相对的概念，任何一个国家都不可能做到完全的外商投资自由化。中国对外资股权管制的改革一方面要注重外资企业的绩效，另一方面又要考虑国家的整体利益，实现吸引外资和保护核心产业的双重目标。

Shareholding Control and Investment Liberalization——Evaluation and Analysis base on Effects of Foreign Shareholding

Both the developed countries and the developing countries have controlled the foreign share- holding in fact. The difference is their degree and progress. In view of the developing trend and tide, shareholding must pass the three stages： forbidding shareholding, releasing control and investment liber- alization. The investment liberalization is just the comparative concept, because any country can not carry out the complete foreign investment liberalization. Chinese reform on foreign investment shareholding control must pay attention to the performance of the foreign - invested enterprises, and on the other hand it must consider of the national whole benefits. By this way it can realize the dual goals of absorbing the foreign investment and protecting the core industries.