证券市场在国有经济战略调整和国有企业改革中具有不可替代的作用。国有经济的结构调整和制度改革，有赖于制度、立法、战略和市场四个方面问题的正确处理。但是，相对而言，制度、立法和战略问题的处理，由于受权力与利益的既存格局的制约，对改革需求的反应往往滞后，甚至处 The securities market plays an irreplaceable role in the readjustment of the state-owned economy and the reform of state-owned enterprises. The structural adjustment and system reform of the state-owned economy depend on the correct handling of the four aspects of the system, legislation, strategy and market. However, relatively speaking, the handling of institutional, legislative and strategic issues is often constrained by the existing pattern of power and interests and the response to the demand for reform often lags behind