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1·Constitution of ownership in our country at present mainly has the state-owned stock, the legal stock and the circulation stock.

我国目前的股权构成主要有国有股、法人股和流通股。

2·Because of historical reasons the listed company interior generally went on to form non - circulation stock and the circulation stock two kinds of stock in the China stock market.

由于特殊的历史原因，中国股票市场的上市公司内部普遍形成了非流通股和流通股两种不同性质的股票，从而造成了两类股票同股不同价、同股不同权市场制度与结构。

3·The policy suggests that the effective way to operate interest circulating is to converse capital shares appointment of non-circulation stockholders according to stock issue price.

政策建议，按股票发行价格折合非流通股东的持股数量，是实现全流通的有效路径。

4·From the Angle of regulating it, our stock market should achieve the circulation of stocks of state and legal persons in turns.

从规范股票市场的角度讲，应分期分批的实现国家股和法人股的流通。

5·The research establishes a differential market theory of exchange of permits of pollution according to the issue, circulation and regulation of stock.

借鉴股票的发行、流通、监管程序，提出排污权交易的层级市场结构理论，并据此对排污权交易进行了系统的研究。

6·The calculation of economic mathematical models can be employed to provide quantitative analysis for complete circulation of uncirculated stock.

运用经济数学模型测算，可以为非流通股实现全流通提供定量分析的依据。

7·At present, in our stock market the state-own shares and legal-person shares which can not participate in the market circulation are about 60% of the total equity.

目前我国证券市场不能参与市场流通的国有股和法人股约占总股本的60%。

8·This paper empirically studies the stock price effect of restricted share's circulation by using the event study.

本文运用事件研究法对限售股上市流通的股价效应进行了实证研究。

9·The third part concerns the elaboration of market segmentation of our stock market, which included the question of B stock market and the circulation of state owned stock.

第三部分就B股市场和国有股流通问题对我国股票市场分割问题进行了阐述。

10·The influence produced by the circulation of listed state-owned shares over market lies in the price and amount of state stock, both of which determine the divided-weight price of listed state stock.

国有股上市流通对市场影响的大小，取决于国有股的价格和数量，两者结合决定了国有股上市后的除权价格。