The relationship between government subsidies and the performance of automobile manufac-turing enterprises,as well as the mediating effect of R&D investment between the two were studied by taking the A-share listed companies in the automobile manufacturing industry in China from 2017 to 2021 as samples.The experimental results show that government subsidies facilitate the performance of automobile manufacturing enterprises.In terms of the nature of property rights,government subsidies do not significantly affect the performance of state-owned automobile manufacturing enterprises but positively...