中国铝业企业作为传统的国有企业,其上市公司的股权结构存在股权集中、国有股所占比重过大、机构股东欠缺等不合理的因素。这些因素的存在使股东治理权的行使受到阻碍,为公司控制权的转移设置了壁垒,影响公司的经营业绩。中国铝业企业要走向国际,要提高竞争力,应改善其不合理的股权结构。 As a traditional state-owned enterprise, Chinese aluminum enterprises have unjustified factors such as ownership concentration of state-owned shares, excessive proportion of state-owned shares and lack of institutional shareholders. The existence of these factors hinder the exercise of shareholder’s right of governance and set up barriers for the transfer of corporate control, affecting the operating performance of the company. Chinese aluminum enterprises to go international, to enhance their competitiveness, should improve its irrational ownership structure.