上市公司的股权人为的划分为国家股、法人股、普通股，其中只有普通股可以流通。

The shares of listed companies are divided into state shares, legal person shares, ordinary shares which can only circulation.

对国有企业进行规范的股份制改造,必然面临国家股是否上市流通的两难选择.

The joint stock reform of state owned enterprise faces the problem of state shares transaction.

区分了所有权后，国家股，法人股比例对公司的绩效无明显影响。

After distinguishing ownership, state-own share, legal-person share and liquid share has no obviously effect on its performance.

主要应用于英国证券市场。在英国，政府发行国家股并进行销售。

Used primarily in the British market, where the British Government issues Treasury stock and seeks subscriptions.

本文首先对国家股不能流通的负面经济效应进行了分析，说明其流通的必要性；

How to remove it by realizing liquidity of the national non-liquid stock, the major part of the non-liquid stock, is the subject of this thesis.