本文认为伴随新一轮国企市场化改革的推进,市值管理在国有控股上市公司经营运作中的重要性进一步凸显,然而国有控股上市公司的市值管理绩效与其在我国资本市场中的重要地位并不匹配。本文探讨了新形势下国有控股上市公司开展市值管理的必要性和可能性,针对其实践中存在的障碍从市值管理的三个层面提出了优化路径。 This paper argues that with the new round of marketization reform of state-owned enterprises, the importance of market value management in the operation of state-controlled listed companies is further highlighted. However, the performance of state-controlled listed companies does not match their market capitalization in China’s capital market. . This article explores the necessity and possibility of state-owned listed companies in carrying out market value management under the new situation. In view of the obstacles in their practice, this paper proposes the optimization path from the three levels of market value management.