煤炭企业在公司制改造过程中，外行业企业不愿持煤炭企业股份，而煤炭企业又无力持有外行业企业股份，本文就此提出一种“业内法人相互持股”的公司制改造模式。煤炭企业在公司化改造中尚未找到有效的国有产权实现形式，政企如何分开还缺乏可操作性的方案，预算约束软化的问题? During the process of reforming the corporate system in the coal enterprises, the foreign industrial enterprises are reluctant to hold the shares of the coal enterprises, and the coal enterprises are unable to hold the shares of the foreign industrial enterprises. Therefore, this paper proposes a reform model of “corporate mutual legal ownership” in the company system. Coal enterprises in the corporatization has not yet found an effective way to achieve the realization of state-owned property rights, how to separate the government and enterprises also lack of operational options, the problem of softening the budget constraints?