如何搞活国有经济乃是我国经济体制改革与市场经济发展过程中的一个重要课题。市场经济的外部环境及优胜劣汰的市场法则使得企业出现两极分化。优者为求更大发展亟需通过多种途径进行扩张，企业兼购在这种形势下也成了企业改革的热点。本文试从企业改革与企业自身两方面就企业兼购的可能性与必要性进行分析，指出企业兼购是我国企业改革不可逾越的，而企业自身则可通过兼购得到新的增长点。本文最终从我国的兼购现状入手，提出企业兼购中政府、中介机构、企业三方各自所应采取的策略。 How to invigorate the state-owned economy is an important issue in the process of economic system reform and market economy in our country. The external environment of the market economy and the market rules of survival of the fittest make the enterprise polarization. In order to promote greater development, the excellent ones urgently need to be expanded in various ways. In this situation, the merger of enterprises has also become a hot issue for enterprise reform. This paper attempts to analyze the possibility and necessity of corporate mergers and acquisitions both from the perspective of enterprise reform and the enterprises themselves, pointing out that mergers and acquisitions are insurmountable in the reform of Chinese enterprises, while enterprises themselves can acquire new growth points through mergers and acquisitions. In the end, this article starts with the status quo of China’s M & A and puts forward the tactics to be taken by each of the three parties including the government, intermediary agencies and enterprises during the merger of enterprises.