1.股本结构上的限制。我国证券市场建立之初,在设计上为保护国家利益,对企业原有的国家股和法人股规定不得流通。这样,上市公司可供流动的股权比例大打折扣,特别是一些国有成分较高的企业,流通股比例最低甚至只有5％。在目前没有较好 1. The capital structure of the restrictions. At the very beginning of the establishment of the securities market in our country, in the design, for the protection of the national interest, the regulations on the original state shares and corporate shares of an enterprise may not be circulated. In this way, the proportion of listed companies that can be used for liquidity is greatly reduced. In particular, some enterprises with higher state-owned assets have the lowest proportion of circulating shares of only 5%. At the moment there is no better