上市公司非流通法人股这一独具中国特色的证券市场制度,经历了从1990年创设到国有股减持的提出,再到股权分置改革这样的历程,正逐渐淡出历史舞台。上市公司的非流通法人股拍卖转让也随之走过了一个从无到有,从热到冷,逐渐淡出的历程 The non-circulating legal person shares of listed companies, a unique securities market system with Chinese characteristics, have undergone a process of gradual decline from the establishment of the state-owned shares reduction in 1990 to the reform of the share-trading structure. The auction of non-circulating corporate shares of listed companies also goes through a journey from scratch, from hot to cold, and gradually fade out