By Guo Lihong　

Date: 2002/07/15

Abstract:

Now that "the reduction in state shares" that should not be done is stopped, the "unification of stock market"that needs to be done has to be done. After the factor of "the reduction in state shares" is excluded, we should and are able to focus on the knot of the Chinese stock market—the full circulation of the non-circulated stocks. There have emerged two full circulation scenarios, providing basis for further study on how to restructure the stock market.