The Prospective Law Issues In The Innovation Of Non-tradable Shares

The reform of splitting stocks is a hot issue in Chinese capital market. The issue of "Splitting Stocks" is a concept of reform. To all appearances, splitting stocks refers to how to change incurrent shares into current ones, and truly achieve the same unit with the same rights and costs, which makes all the shares with the same attributes at the starting point in a unified market valuation. This is the essential element of the basic systematic construction in the capital market. From the essence, splitting stocks means to break the old complexion, to reshape the contractual arrangements of Chinese stock market, and to reconfigure the interest of incurrent and current shareholders.The thesis discussed legal issue of the reform of splitting stocks in the following four perspectives:Chapter One analyzes history of Chinese stock market so as to give a brief introduction of equity collocation reform in China.Chapter Two discusses the unbalanced interests of current and incurrent shares stockholders caused from issue of equity collocation, and the imperativeness of equity collocation reform.As the concept of "consideration" plays a vital role in equity collocation reform, the thesis elaborates different interpretations of equity collocation reform in the Third...