解决股权分置的思路:市场化全额减持流通方案

本文认为,股权分置是我国股票市场一个重大的制度性缺陷,也是阻碍市场发展与成熟的桎梏,解决股权分置问题,实现国有股权的全流通,是推进国有经济战略性重组的重要战略步骤;在我国社会主义市场化进程中,解决股权分置问题是一个系统工程,应尽可能采用市场化手段,并尽可能保证国有股流通与减持的同步实施。文章提出了市场化全额减持流通方案,充分考虑了流通股东的利益,并按照市场化竞价发售方式将上市公司国有股转移到社会公众投资者手中。该方案能够促进国有股全流通的顺利实现,解决股市顽疾,有助于推进中国国有经济的民营化,实现对国有经济的战略性重组。

Resolution of Share Division: A Maketization Method of Totally-Selling Circulation

Share division is an important institutional defect of Chinese Stock Market and it hindered the market development. Resolving the problem of share division and realizing totally-circulation of the state-owned shares is an important strategic step for us to propel the strategic restructure of national economy. In the process of China's socialism marketization,resolving the problem of share division is a systematic project, we should do our best to adopt the means of marketization,and make sure that the totally-circulation and reduction of state-owned shares were implemented simultaneously. The marketization method of totally-selling circulation fully considers the interest of share holders and transfers the state-owned shares of listed companies to public investors according to market price. So,it is effective and will help the government to reconstruct the macro-economic structure.