State-owned Shares Of The Theoretical Analysis And Countermeasures

Since the second half year of 2000, lessening of state-owned shares has been one of the most concerning problems in China's security markets. Many institutions' theories and projects of lessening state-owned shares are seen in newspapers. Because of the complexity and the sensitivity of lessening state-owned shares, we must consider the stability of markets, state-owned shares' interests and shares-holders' benefits in designing the project of lessening state-owned shares. In order to promote our stock markets, we must analyze deeply the theory of lessening state-owned shares and study the lessons of the failure of the practice in lessening state-owned shares. Only then can we find out the answer to lessening state-owned shares which can be acceptable to the central government, the local government, the listed companies and the large masses. Basing on this way, the paper analyze and research why to lessen state-owned shares, how to lessen state-owned shares.The whole paper consists of three parts which are preface, text, conclusion. The preface gives the reason and the significance of the research briefly. The text embraces five chapters. Chapter one, analyzing the historical reason of the formation of state-owned shares and expounding the preseat conditions of state-owned shares. This chapter is the beginning of the papers, aiming at preparing for analyzing the following questions. Chapter two, theoretically analyzing the lessening of state-owned shares. The chapter testifies the significance and necessity of lessening state-owned shares from the following perspectives: the strategic adjustment of state-owned economy, property reforming of state-owned enterprise, perfecting of corporation-governance and the direct reason of lessening stated-owned shares. It is the theoretical base of the paper. Chapter three, looking back at the practice of lessening state-owned shares and the reaction of markets and analyzing deeply the failure of the lessening of state-owned shares. Thinking that during the process of lessening the state-owned shares, no clear pturpose and unreasonable price led to the failure. Chapter four, introducing the stage project of security-supervising association of China. Inquiring into the limitation and advantage of discounting-rationing project. Chapter five, proposing the principles, the aims and the ways in lessening state-owned shares. The end, the core of the paper. It is a summary and conclusion of the fore-several chapters.