“三甲内的企业没有并购的压力,三甲外的企业急于并购,从资源配置的角度说,正好反了”中国的国有企业正处在一个新旧体制更替的关键时刻, 并购作为企业“升级”的一大利器,运用得当就会加速国有企业破蛹成蝶的过程,然而一旦失败,伤害也十分巨大。为此,在对当前的并购热鼓与呼的同时,客观认识其存在的风险亦非常必要。中国民营经济研究会会长保育钧就认为:“在现代企业制 “There is no pressure on mergers and acquisitions among the top three companies. Companies outside the top three are eager to mergers and acquisitions. From a resource allocation point of view, this is exactly the opposite.” China’s state-owned enterprises are at a critical juncture in the replacement of old and new systems. M & A is “upgraded” by the enterprises A big weapon, used properly, will speed up the process of breaking up pupae into butterflies at the state-owned enterprises. However, if they fail, the damage will be enormous. For this reason, it is also necessary to know objectively the risks of its existence while at the same time the current mergers and acquisitions are hot-headed. Bao Yujun, president of China Private Economy Research Association, said: "In the modern enterprise system