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市场分割是我国股票市场的基本特征,它既包括流通股与非流通股之间的分割,又包括内资股与外资股之间的分割。自从B股市场对境内投资者开放以来,我国开始了A、B股市场一体化的进程,A、B股市场的平稳过渡为我们积累了市场一体化成功的经验。流通股与非流通股之间分割也可以借鉴A、B股的经验,逐步完成我国股票市场的统一。
Market segmentation is the basic characteristic of the stock market in our country. It includes not only the division between tradable shares and non-tradable shares, but also the division between domestic shares and foreign shares. Since the opening of B-share market to domestic investors, China started the process of the integration of A and B stock markets. The smooth transition of A-share and B-share markets accumulated the experience of market integration success for us. The division between tradable shares and non-tradable shares can also learn from the experience of A and B shares and gradually complete the unification of China’s stock market.