公有股一直是我国证券市场上不可回避的重要课题。在证券市场经历重大制度创新的今天,这个课题自然会倍受关注,并有可能成为重大政策突破的对象。公有股问题在我国经济体制改革和证券市场规范发展过程中到底处于什么样的地位呢?我们认为,从历史的角度来看,公有股问题是渐进的经济体制改革的必然产物,是我国股票市场得以产生和初步发展的基本前提,但从今天的情况来看,它已经变成 Public shares have always been an unavoidable important issue in China’s securities market. Today, when the stock market has undergone major institutional innovations, this subject will naturally attract much attention and may become the target of major policy breakthroughs. In the end, what kind of status does the issue of public shares be in the process of China’s economic system reform and the normative development of the securities market? From a historical perspective, the issue of public shares is an inevitable outcome of a gradual economic reform and an inevitable result of our country’s stock market The basic premise for its creation and initial development, but from today’s point of view it has become