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在我国上市公司中存在大量的国有股且不能流通 ,这是历史遗留的问题。国有股不流通为中国上市公司和证券市场的发展带来了巨大的隐患。首先 ,国有股“一股独大”不利于国有企业真正的改革 ,真正的公司化。其次 ,投资主体多元化和产权约束无法实现。再次 ,国有股不流通 ,造成中国股市畸形发展。我们必须从战略的高度来考虑国有股减持的目的与原则。国有股减持是为了解决上市公司法人治理结构和投资主体多元化的问题。国有股减持要坚持四个基本原则。第一 ,要坚持公平、公正、公开的原则。第二 ,必须保持市场的稳定。第三 ,要保护广大投资者的合法权益。第四 ,要保证国有资产保值增值。因此 ,我们应当采取多种办法、多种渠道来解决国有股的减持和流通问题
There are a large number of state-owned shares in Chinese listed companies and can not be circulated, which is a question left over from history. The non-circulation of state-owned shares has brought tremendous risks to the development of listed companies and securities markets in China. First of all, the state-owned shares “one single dominant” is not conducive to the real reform of state-owned enterprises, the real corporatization. Second, the diversification of investors and property rights constraints can not be achieved. Third, the non-circulation of state-owned shares caused the abnormal development of the Chinese stock market. We must consider the purpose and principle of state-owned shares reduction from a strategic height. The reduction of state-owned shares is to solve the problem of corporate governance structure and diversification of investors in listed companies. The reduction of state-owned shares should adhere to the four basic principles. First, we must uphold the principle of fairness, fairness and openness. Second, we must maintain market stability. Third, we must protect the legitimate rights and interests of investors. Fourth, we must ensure the preservation and appreciation of state assets. Therefore, we should adopt various measures and various channels to solve the problem of reduction and circulation of state-owned shares