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A Study on the Reform of Difference of the Stockholder's Rights in China's Stock Market Seo, Seok-Heung Since it was first established in December 1990, the history of the Chinese stock market have been more than 20 years. During this period, the most important reform that changed the structure of the Chinese stock market is the reform of difference of the stockholder's rights. The difference of the stockholder's rights refers to the state that the stock of a listed company is separated into negotiable stock and unnegotiable stock, which resulted from historical causes. The reform of difference of the stockholder's rights means the reform to alter unnegotiable stock to negotiable stock, thus uniting both kinds of stock as negotiable stock. This thesis is the synthetic research about the China's reform of difference of the stockholder's rights. I have dealt with the origin and weakness of the difference of the stockholder's rights, causes behind the failure of state-owned stock's selling out, what could be learned from it, the concrete process of the reform of difference of the stockholder's rights, its procedures and main characteristics, and the core issues regarding the reform processes. What has been utilized for the thesis are not only academic essays, but also Chinese newspapers and magazines' special articles, and the reminiscences from the participants in the reform.