为应对人口老龄化问题，近年来我国政府出台系列居家适老化改造政策。而既有研究多聚焦老旧住房改造及发达国家适老化改造政策，对我国适老化改造政策执行过程及问题关注不足。而北京市适老化政策执行时间最早、持续最长，M街道为典型老龄社区，以北京市M街道为案例进行适老化改造政策执行过程及问题研究具有典型性。为此，本文基于居家适老化改造政策文件 54篇和北京市M街道社区书记、社区养老驿站站长访谈、老年人自述样本3份，运用内容分析法、访谈法从政策执行主体维度分别对政策文本、案例访谈文本进行政策工具选择情况分析，构建政策执行中的多元主体政策网络。研究发现，政府、社区、企业、老年人等多元政策执行主体，在政策执行过程中选择自愿性工具、强制性工具、混合型工具等政策工具，主体间相互作用，形成了政府主导、社会参与、市场运作、家庭主动的政策执行关系网络，但也存在城乡区域政策力度不均、老年人家庭复杂、政府财政负担较大、房屋产权与养老需求的矛盾、政府政策执行部门职能重叠等问题挑战。

In order to deal with the problem of population aging, the Chinese government has issued a series of home-based aging transformation policies in recent years. The existing studies focus on the renovation of old housing and aging renovation policies in developed countries, and pay insufficient attention to the implementation process and problems of aging renovation policies in China. The implementation time of aging policy in Beijing is the earliest and the longest. M Street is a typical aging community. It is typical to study the implementation process and problems of aging transformation policy.Therefor, this study based on the appropriate aging transformation policy, 3 department files and 51 local files, and the interview of Beijing M street community secretary, community endowment station master and the elderly note 3 samples, using content analysis method to analyse the text theme in policy enforcer dimension, build multiple subject in the implementation of policy network. Study found that, the government, communities, enterprises, the elderly and other diversified policy implementation subjects, using voluntary tools, mandatory tools and hybrid tools in the process of policy implementation, formed the government leading, social participation, market operation and family initiative policy implementation network. However, there are also some challenges, such as, uneven urban and rural regional policy strength, the complex relationship of the elderly family, the government financial burden, the contradiction between housing property rights and pension demand, the overlapping of government policy executive functions.