股权分置是我国股市的制度性缺陷。2004年我国证券市场开始了股权分显改革,导致流通股股东和非流通股股东的利益重新分配。我国股权分置改革中存在政府观念转变及股东“搭便车”的问题,对此,应遵循公平和共赢的原则,进一步完善保护流通股股东权益的制度。 The split share structure is the systematic defect of our stock market. In 2004, the stock market of our country started the reform of the shareholding reform, resulting in the redistribution of the interests of the tradable shareholders and non-tradable shareholders. In the reform of non-tradable shares in our country, there exists the change of government concept and the problem of “free riding” by shareholders. In this regard, we should follow the principle of fairness and win-win and further improve the system of protecting the rights and interests of tradable shareholders.