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非流通股问题是我国证券市场上最大的历史遗留问题。由于非流通股约占总股本的68％,其比例之大,已成为证券市场和政策研究领域的焦点。它象一把悬挂在我们证券市场上的“达摩克利斯之剑”,严重影响和制约我国证券市场的发展。为寻找一条既不影响证券市场健康发展、又能有效解决非流通股问题的途径,天则经济研究所和湘财证券公司邀请国内各界专家学者,围绕这一问题进行了深入讨论和交流,提出了减持国有股的设想和操作思路。现将专家的发言摘要发表,以飨读者。
The issue of non-tradable shares is the largest issue left over by history in China’s securities market. As non-tradable shares account for about 68% of the total share capital, the large proportion has become the focus of the securities market and policy research. It is like a “sword of Damocles” hanging on our stock market, which seriously affects and restricts the development of the securities market in our country. In order to find a way that will not affect the sound development of the stock market and effectively solve the problem of non-tradable shares, Daye Institute of Economics and Xiangcai Securities Company invited experts and scholars from all walks of life to conduct in-depth discussions and exchanges on this issue and put forward The idea of reducing state-owned shares and operational ideas. Presentations of experts’ speeches are now published in order to readers.