129758148926250000_630Securities times: capital market reforming Sham Shui Po when doing pathbreaker
20 years ago, Comrade DENG Xiaoping said such remarks in Shenzhen: Securities and the stock market is not something unique to capitalism, socialism can we use allows, but try to firmly. Yes, let go; wrong, correct, closed is sth In this vision, inspired by the courage of Chief Architect of reform and opening up in China, is still in its infancy in China's stock market started fastHard to grow.
Today, stock market last name Chinese name has long ceased to be an issue, 20 years, great achievements of China's capital market is also evident. However, we must also recognize that as the reform into the Sham Shui Po District China, deep-seated contradictions and problems are exposed in the capital market, became a crucial road winding over that. It can be said that the great cause of reform in China, are facingWhere crossroads, "autumn of the crisis of survival", and as an important process of marketization in China position, capital markets is to be broken.
Key moments of reform in China and then set off, China's capital markets need radical reform, return to normal market function; break the cocoon and butterfly, change of system itself. As we all know, securities markets are called nationalEconomy's "barometer", which combines reflecting the various dimensions of national economic operation, has financed three pricing, investment, capital resource allocation functions. But we also have to admit that in the past 20 years, China's securities markets in addition to creating brilliant, its location and the actual effect is from time to time-sometimes by alienation is the withdrawal of State-owned enterprises overcoming difficulties, sometimes local governmentsPerformance stage, sometimes is characterized by powerful capital gold
tera power leveling, and sometimes National Carnival "casino". It can be said that stock market has been in a kind of unhealthy or sedentary existence. Such a market, can only be destined to finance the light returns, speculative, cohabitation, nishajuxia places that prevailed, the stock market's function is not to play, the vast number of small and medium-sized investmentFunding interests and feelings get hurt.
Therefore, China's capital markets need to be root. Fortunately is long function distortions of the securities market, began to receive sufficient attention and correction. Chairman of the China Securities Regulatory Commission said shortly after he assumed office, we should become the independent innovation of construction of China's capital market engines, propeller of industrial upgrading,Barometers of the national economy, the global cooperation of adhesives. Basic skills it can be said that for the securities markets to form a specific interpretation of present China.
Capital market services to the real economy, is becoming a community consensus.
Capital market needs in the new era of storming another important aspect, is a system of its own evolution. In early February, Mr Guo to the Securities Department ofCommission question: "IPO is not okay? "Short sentence, clearly reveals the one �C China's securities market will strengthen the market power, reduce administrative intervention.
Perhaps the securities market "Executive" era has come quietly. Guo Shuqing said this sentence, is the IPO of three high (high price, high price, high raise) have been criticizedWhen a dozen years
tera gold, reform of stock-issuing system, approval, approve, sponsor, inquiry sth Variety, but is still essentially administrative audit system. Executive must hide behind a lot of the arrogance of power rent-seeking space and, of the administrative system and mostly free and open market economy ideas are clearly incompatible. Therefore, "Mr Guo new deal"Spirit cannot but make people a vibration. A prominent characteristic of the market economy is open and transparent, and at this point, we are starting to feel the wind of a fresh. For example, as of February 1, pre-IPO Enterprise disclosure from the pre-trial 5 days to a month or so in advance, and first public IPO audit workflows and reporting list. It is because of this change,On the nature of Fame not listing a huge civil disputes, putting aside whether the company should be listed in this question aside, the move itself was a welcome progress in the democratization of the decision-making process in the capital market. In fact, recent regulatory and planning a series of initiatives, is the concept of the market economy in practice--on efforts to increase direct financing in the capital market, make great efforts to cultivateInstitutional investors, high pressure to combat insider trading violations, strengthen the open and transparent information disclosure, actively promoting reform, elimination of the Government bond market for enterprise credit endorsements, and so on. We say reform must unwaveringly adhere to the market direction, and bursts of warm air in the capital market, all conform to the demands of the history and trends of the times, precisely fit the purposes of this questionWas intended. We are pleased at the same time, hope, guts in some of the capital market reform, steps and then some. We have 20 years of time, surpassing in size and hardware a lot of century-old financial Empire, why not dare to adopt in terms of systems, software, extraction of international advanced mode? Human civilization has no boundaries, the world trend is not availableBlocked, the capital markets, the capital times, should also stand at the forefront of reform. Of course, any changes are the result of a game, is the process of a redistribution of interests. Capital market reform, will inevitably disrupt the existing patterns in the interest of, touch on the nerves of some interest groups. Vested interest groups of the Chinese capital market
tera gold, a great and powerful capital shall be entitled to money transactionsGovernment officials, mad money by unscrupulous companies, owner has a wealth of myth, associated institutions hold a candle to the devil, has played tricks market hot, and the main vulnerable groups, are the majority of small and medium-sized investors. Capital market reform is to succeed, we must break this pattern of interest, full of natural resistance.
In this regard, we should have adequate psychological preparation. TemperatureOn the Po in two sessions this year, Prime Minister when the Government work report is made, for the capital markets made the following statement: sound system perfect the IPO and withdrawal system, strengthen the return and protect the rights and interests of investors; the positive development of the debt market. In spite of not much, but it is clearly felt the party's steadfast belief in market-oriented reforms and national capital markets, and emerging new China capital marketTo the new situation is highly consistent. Believe that after some change completely, will usher in a new development of China's capital market, thus pushing forward the great cause of reform in China into a new world.
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