| Chinese stock market is in the stage of split-share structure which causes great obstacle for the development of capital market. Untill late of 2004, the total number of for 251.7 billion shares, the number of non-tradable units to 446.3 billion units, of which the state-owned shares to 339.4 billion shares. Unit does not lead to the tradable of non-controlling shareholders circulation patterns of behavior changes, equity structure too stressed to the status of state-owned shares in the absolute control of rigid control. Address equity hours Purchase the fundamental task is the elimination of the securities market in our country at present circulation Unit and non-tradable units of the division for listed companies of all shares in a clear time-frame are negotiable rights, and achieve equity reunification truly shares with the same price, with unit with the power, with the Unit with Lee is conducive to all types of investors to participate equitably in the stock issuance and trading, the benefit of all shareholders equitably in corporate governance, and help to enhance the efficiency of the... |
