我国上市公司国有股问题研究

The study of the state-held shares of our marketed corporation

文章首先分析了国有股一股独大问题,指出其并非国有股问题的本质,减持也并非解决国有股问题的根本有效方法;接着分析了国有股存在的主要问题:上市公司的先天不足、国有股股东的缺位、国有股的非流通性、对控股股东法律规范的欠缺;最后提出解决国有股问题的对策:严格公司上市的条件、建立专门的国有资产监督管理机构、允许国有股流通、严格规范控股股东。

This article first analyses the problems of state-held shares, probably the biggest shareholder in China, and then points out that is not the nature of the problems. It is not an efficient way to solve the problem by decreasing the state-held shares. Again some major problems about the state-held shares are further probed: poor limitations of some listed companies; absence of shareholders; non-negotiability; and the lack of laws to regulate those holding shareholders. Finally the article proposes some possible solutions to the above problems: improving the conditions of coming to market; setting up some special institutions to supevise the state property; permission for currency; regulations for the holding shareholders by law.