2007年国务院颁布第26号文件开始施行央企红利上缴试点改革,2010年底国务院扩大了征收红利的央企范围并提高了上缴比例。本文基于此次试点改革的经验,分别通过微观和宏观的视角与发达经济体国企红利上缴情况进行对比,对我国国企红利上缴机制的合理性进行探讨,得出目前我国国企红利上缴机制设计中比例确定方法、梯队划分、时机选择及股东公平性等方面尚需改进的结论。 In 2007, the State Council promulgated Document No. 26 to start the pilot reform of the remittance of dividends by central SOEs. At the end of 2010, the State Council expanded the scope of central SOEs that collected dividends and increased the proportion of surrenders. Based on the experience of pilot reform, this paper compares the dividend payout of state-owned enterprises in developed economies with the micro and macro perspective respectively, and discusses the rationality of the pay-back mechanism of state-owned enterprises in our country. Determine the method, the echelon division, timing and shareholder equity needs to be improved.