CAJ | 학술논문

对由于历史的原因所形成的我国上市公司的股权分置进行改革就是要清除国有股、法人股流通屏障，赋予其流通权。股权分置改革是我国证券市场的深刻革命，是国有企业体制改革的深化与延伸。本文就我国目前股改的形势，股权分置改革的性质、意义及影响进行分析，并提出了完善股改的十项政策建议。
대유우역사적원인소형성적아국상시공사적고권분치진행개혁취시요청제국유고、법인고류통병장，부여기류통권。고권분치개혁시아국증권시장적심각혁명，시국유기업체제개혁적심화여연신。본문취아국목전고개적형세，고권분치개혁적성질、의의급영향진행분석，병제출료완선고개적십항정책건의。
Due to historical reasons, the state-owned and the legal person-owned stocks issued by the listed companies in China＇s stock market are not allowed to undergo further circulation in the stock market, except for the initial listing. The stocks for regular trading in the market are those stocks open to the common public share-holders. Thus, the overall stock market in China is being divided into two categories, namely the circulating shares and non- circulating shares. This situation is called stock market division. The reconstruction reform of the China stock market aims at lifting the barriers for the circulation of the state-owned and the legal person-owned stocks. The reconstruction reform of the China stock market is a revolutionary, in that it may be viewed as the deepening and extending of the reforms of the state-owned enterprises （SOEs）. A profound research into the characters, significance, and the influence of the reconstruction reform of stock market will help to eliminate the misunderstanding among investors and the restless argument among scholars. The research proves a great practical value and theoretical significance.