The proportion of the shares for fund raising legal person has decreased. The reason for this due to transformation from state owned enterprises as part of their restructuring their SOE.
Thus the continuous decrease in the proportion of the shares held by the state owned enterprise declined due to constant implementation of the increments in capital raising by the listed firms and increase the private transfer of shares of the state to the legal individuals.
In the year 2000 the government of China tried to improvise the structure of the State owned enterprise firms belonging to the industries of petro chemical, communications, transports, rail and lastly the firms belonging to the electric sectors. Their aim was to the revamp the whole firms which had launched its IPO and were listed on the Shanghai stock exchange and the other foreign stock exchange