双层股权结构制度一般是将公司的所有权与投票权分离，使得少数股东可以实现持有少量股份却能实际控制大于其持股的投票权。近年来，以BATJ为代表的许多中国新经济企业纷纷赴海外上市，使得是否接纳双层股权结构企业上市议题引起世界各国家和地区的资本市场做出艰难决策。2019年3月1日，上海证券交易所科创板正式开板，其中，允许设置表决权差异安排的公司上市是其制度变革的一项重要内容。中国内地资本市场迫切感受到不变革的压力，正在加快改革步伐，对新经济企业敞开怀抱。本书从双层股权结构制度的研究缘起说起，挖掘双层股权结构制度的理论依据、优势与劣势以及发展历史，在对全球主要资本市场和中国关于双层股权结构制度实践进行梳理回顾、跟踪进展和对比分析的基础上，对国内外采用双层股权结构上市的典型公司案例展开分析，进而对中国资本市场双层股权结构制度的适用性、范式设计以及进一步发展提出相应的政策建议。

The dual-class share structure system generally separates the ownership of a company from the voting rights, so that minority shareholders can hold a small number of shares but actually control more voting rights than they hold. In recent years, many Chinese new economy enterprises represented by BATJ have gone overseas to list, which has caused difficult decisions in capital markets in various countries and regions around the world to accept the listing of dual-class share structure enterprises. On March 1, 2019, the Science and Technology Innovation Board of the Shanghai Stock Exchange was officially launched, in which the listing of companies with voting rights differential arrangements is an important part of its institutional change. Chinese mainland capital market urgently feels the pressure of not changing, and is accelerating the pace of reform and opening its arms to new economy enterprises. Starting from the research origin of the dual-class share structure system, this book excavates the theoretical basis, advantages and disadvantages and development history of the dual-class share structure system, and analyzes the typical cases of companies listed with dual-class share structure at home and abroad on the basis of combing and reviewing, tracking progress and comparative analysis of the world's major capital markets and China's practice on the dual-class share structure system, and then puts forward corresponding policy suggestions for the applicability, paradigm design and further development of the dual-class share structure system in China's capital market.（AI翻译）

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