本文以日本为参照系，从日德比较的角度，对德国公有企业的民营化进程及其特点从以下三个阶段进行了考察和分析。这三个阶段即（１）８０年代开始的在原西德范围内展开的公有企业民营化；（２）１９９０年～１９９４年在原东德地区进行的国有企业民营化；（３）目前在整个德国境内的邮电和国有铁路这两个领域内所开展的民营化进程。德国的公有企业原先不仅在邮政、铁路等公用事业领域、而且在矿产制造业方面也占有相当的比重，其在战后德国的复兴阶段中曾起过积极的作用，但进入７０年代末期以后，整个世界的经济格局和产业结构发生了巨大的变化，为适应这一变化并保持德国经济的稳步发展，公有企业的民营化便是一个时代的趋势，而其所谓民营化，并非简单地复归为私有化，而是更多地以公有与民有相结合的形态出现，在其具体运作上，则更多地导入了民营的机制 In this paper, Japan as a reference system, from the perspective of comparative Japan and Germany, the privatization process of German public-owned enterprises and its characteristics from the following three stages were investigated and analyzed. These three stages are (1) the privatization of public enterprises in the former West Germany that started in the 1980s; (2) the privatization of state-owned enterprises in the former East Germany from 1990 to 1994; (3) The domestic privatization process carried out in the two areas of postal and telecommunications and state-owned railways in the country. The German public-owned enterprises originally occupied a considerable proportion not only in public utilities such as postal services and railroads but also in the mineral manufacturing industry. They played an active role in the post-war German renaissance. However, after entering the late 1970s, The economic structure and industrial structure of the entire world have undergone tremendous changes. To adapt to this change and maintain the steady development of Germany’s economy, the privatization of public-owned enterprises is an era trend. And its so-called privatization is not simply re-set as Privatization, but more in the form of a combination of public ownership and private ownership. In its specific operation, more private mechanisms have been introduced