国有股减持:以渐进方式超越利益之争

发布时间：2018-12-12 20:34

【摘要】：国有股减持争论至今,仍然是扑朔迷离,有人评价说:4000=0,也就是4000多种方案仍不能给减持提供一个相对有益的思路。为什么减持问题难以解答?一是我们可能试图在求解一个本来就无解的问题,二是减持被混杂了太多的不相关的问题。将复杂的事情简单化,可以发现自然之美的原则;将简单的事情复杂化,可以创立一种哲学。现在对减持而言,最需要的是做减法,使得减持从繁琐中回归简洁。既试图将国有资产通过股市卖得一个好价钱,又试图让沪深股市维持稳定,是无法兼得的鱼与熊掌。政府没有让利的义务,股市和股民需要的,也不应是争利益而是立规则。减持必须超越利益之争,重新回到探讨减持规则上来,这就是我们所做的尝试。这样的尝试严格限定了减持仅仅是国有股股东试图转让其股份的行为,因此减持规则本身决不能像被暂停掉的减持办法那样凌驾于证券法和公司法之上;这样的尝试严格限定了减持规则本身决不直接武断地决定价格,必须卑微地将价格让给看不见的手去决定;这样的尝试也严格限定了减持规则本身决不能了断了已上市公司的问题,却不革除新上市和待上市公司可能再度孳生出来的减持问题。希望这种尝试,是有益的从0到1的尝试。
[Abstract]:Until now, the debate over the reduction of state-owned shares is still a complicated mystery. Some people say: 4000,000,000,000,000,000,000,000,000plans, that is, more than 4000 options, still can not provide a relatively beneficial way of thinking for the reduction of holdings. Why is it difficult to answer the question of reduction? One is that we may be trying to solve a problem that is inherently unsolvable, and the other is that reduction is mixed up with too many unrelated problems. Simplify complex things and discover the principles of natural beauty; complicate simple things to create a philosophy. Now, what is most needed is to reduce the holdings, so that the reduction from the red tape back to simplicity. Trying to sell state-owned assets through the stock market at a good price, while trying to keep the Shanghai and Shenzhen markets stable, is an impossible thing to do. The government has no obligation to yield, and what the stock market and investors need is not to fight for profits but to make rules. Reduction must go beyond the conflict of interests and return to the rules of reduction, which is what we are trying to do. Such an attempt strictly limits that the reduction is only the behavior of the state-owned shareholders trying to transfer their shares, so the rules themselves must not override the securities law and the company law as the suspended reduction; Such an attempt strictly limits the rules of reduction itself not directly and arbitrarily to determine the price must be humble to the price of the invisible hand to decide; Such an attempt also strictly limits the rules of reduction in itself not to end the problem of listed companies, but not to eliminate the problem of new listing and possible re-emergence of listed companies. I hope this kind of attempt is beneficial from 0 to 1.
【分类号】：F832.51

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