State shares are: shares formed by investing state-owned assets in a company from departments or institutions that have the authority to invest on behalf of the state (including state-owned shares converted from existing assets).

Legal person shares refer to the shares formed by corporate legal persons or public institutions and social groups with legal person qualifications that invest their legally operable assets in the company's unlisted tradable equity.

At present, in the equity structure of my country's listed companies, legal person shares account for an average of about 20%.

According to the objects of legal person shares subscribed, legal person shares can be further divided into three parts: domestically initiated legal person shares, foreign-invested legal person shares and raised legal person shares.

Individual stocks refer to the stocks of joint-stock companies subscribed by individuals. Foreign-invested stocks refer to the stocks issued by joint-stock companies to foreign investors and investors in Hong Kong, Macao and Taiwan.

It is a way for my country's joint-stock companies to absorb foreign investment.