中国资本市场已经经历了长达4年多的持续下挫,导致股市受挫的根本原因在于中国股市的制度性缺陷,即上市公司股权结构的长期分置状态,形成了“不同股不同价不同权”的市场制度与结构。2005年4月29日开始的股权分置改革,堪称中国资本市场上最惊心动魄的一场改革,改革牵涉面之广、 China’s capital market has gone through more than four years of continuous decline, resulting in the stock market frustration is the fundamental reason for the institutional defects in China’s stock market, the long-term ownership structure of listed companies, the formation of the “different shares with different prices, different rights” Market system and structure. The split share structure reform that began on April 29, 2005 is the most breathtaking reform in China’s capital market. The reform involves many aspects,