Ξ :,,; ; ;; :,,,, 1,,,,, 10, 2 QFII A, 3, :, Ξ, 1 :, () 2001 3, 2 2002 10 22 5 20 3 2003 6 12, 4 QFII :,, 76 2001,1, 2003 6 12, QFII
,,,,,,,,,,,,,,,,,,,,,,,,,, :? 1993 148,, :,,?,, : ; ; ; 2003,,, 196,,,,,,, 10,,,,,? 77
2003 6,, A?,,,,,,,,,,26 :, 27 :,,,,,,,,,, 2003 5 27 21 :,,, ;,,,,,,?,,, 2002 9 28 12 1 19,,,20 :,,,,,, 78
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2003 6 500, 4 813,,, 5,, 6,, MBO,,MBO,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,?,,,,,,,,,,, 4 500,2003 1 http :/ / www. sina. com. cn 5 :,2003 11 6, 80
,,,,, :, 7,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 81 7 2002,:,,,,,,,,
2003 6,,,,,,,, A,,,,,,,?,?,,?,,,,,,,,,,,,,,,,,,, (),:,,,,,,,,,,,,,,,,,,,,,,, 82
,,,,,,,,,,,,,,,,,,,,,,,( ),,,,,,,,,,,,,,,,,13,40 %,,,,,, WTO,,,,,, 83
2003 6,,,,,, :?,,,,, ST PT,,,,,,?,,,,,,,,GDP,,,,,, ;,,,,,, A,,,,,,,,,,,,,,,,,,,, :,,,,,, 84
,,,,,,,,,,,,,,,,,,,,?,?,,,,,,,,,,,,,,,,,,, MBO,,,,,;, ;,,, 85
2003 6,,,,,,,,, :,,,,,,,,, Abstract :It has appeared in some places a new business that the foreign capital bought out all the state2owned stocks in the enterprises from the local government, which is a new way to reduce the amount of stocks held by government. This kind of purchase possesses dual characters. On one hand, it is achieved through agreement with commercial rationality ; on the other hand, it doesn t have any legal base. Thus we shall make research whether such commercial rationality is legitimate according to the social justice, the influence of such purchase to local employment, and the responsibility of the lo2 cal government to it. 86