Split-share refers to the circumstance under which non-tradable share and tradable share coexist in listed companies in China. Split-share consequently leads to deficiency in stock market and serious deficiencies in system, which has become a major obstacle in the way of fundamental system perfection in stock market.It is under such circumstance that reform is initiated on split-share. This article compared the current split-share situation of listed companies in China with international practice, and on which basis analyzed the systematic defect and problems generated by split-share, impact thereof on operations of listed companies, path of reform, policies, significance and impact of split-share reform. By quoting examples regarding split-share reform of listed companies, this article proposed solution and advice to be adopted in split-share reform, a major reform in China's securities market.This article revolved round the current situation of split-share, solution of it, problems arising therefrom and the direction of future development, which will be of some reference significance to the ongoing reform on split-share.This article is highlighted by the following innovations:1. Systematic comparison of structure of stock market in China with other countries;2. Elaboration on path of reform on split-share;3. Proposal of significance and effect of reform on split-share and analysis of operational process for reform of split-share by quoting some examples. |