China'S Stock Market: The Road Is At The Foot Of Management Policy.

I remember that in 1993, the stock market in China only took 3 years to rise from 100 to 1558.

It took 10 years, that is, in 2001, to 2245.

In 2007, we saw 6124 points and rebounded to 5178 in 2015.

And now there are only 2800 points, and investors generally suspect that the 2638 point is not the bottom.

Question: China's stock market took 26 years, and the market value of 2800 points rapidly expanded to around 50 trillion, which is larger than 16 trillion at 6124, and has become the second largest stock market in the world. How fast is it expanding?

However, since 2009, the stock market of developed countries such as the United States, Europe, Japan and the developing countries' stock market have reached a new high before the financial crisis. So far, the bull market has been in the market for 7 consecutive years. The Chinese stock market has been crowning the world for 7 years, and it has been tossing about. The index has only more than 2000 points.

The 7 chairman of the SFC has also been in frequent stock market crisis.

In the past half a year, there have been 3 stock disasters. Not only are the investors losing a lot of money year after year, there is no hope for the solution, and even the 1 trillion and 500 billion government funds have been dragged into the stock market to save the market.

Is it not a great sorrow?

Now, Liu Shiyu, chairman of the new SFC, has been in office for more than a month. The market is full of expectations. Is he able to save A shares? Where will he take the A share market? Can the Chinese stock market return to the slow track?

I improved last week.

After making five recommendations to Chairman Liu, I will make further adjustments and propose five measures to save A shares:

First, there must be a timetable for the most disturbing registration system in the market.

Because the registration system will completely overturn the valuation system and price center of the whole market. If it is launched now, the stock price of most stocks will be cut down, and the high priced shares of the gem will fall by 2/3 again, which is not impossible.

But this is unfair and cruel to investors who have bought new shares and refinancing in the past 26 years.

Second, in view of the fact that only 24 of the first 3 months were issued, with an average of 8 per month, it would be better to notify the public as soon as possible: there will be no more than 100 new shares this year.

In this way, we can provide a clear supply and demand expectation for investors, especially those with large funds, and dare to enter the market vigorously.

Third, if the controlling shareholder of a listed company has to reduce its holdings after 5%, if it wants to reduce its holdings again, it will be implemented as a matter of major importance and voted by the general meeting of shareholders.

This measure is entirely reasonable and reasonable.

Fourth, in view of the past six months

21 thousand shares have been down, and the market has been too frequent and ups and downs, which has deeply hurt the vast number of investors. Therefore, it is necessary for China's stock market to establish trillion trillion stabilization fund.

The source of funds can be made up of stamp duty, partial Commission, accumulated investor protection fund, profit from the national team throwing shares, financial appropriation, and the subscription of the majority of institutional and individual investors (which only pay bank interest each year).

I believe that policy responders will be enthusiastic and financing should not be too difficult.

Fifth, in view of the statement made by Yin Yumin, Minister of human resources and social affairs, the pension fund investment and operation will be carried out this year. The management may wish to announce as early as possible: 600 billion pension funds can entrust funds and institutions to enter the market at any time, and no specific timetable will be announced.

I think the above five are the vast majority.

What we eagerly anticipate is the great good for the country and the people and the stock market.

As long as the management really thinks about the interests of the state and the people and makes good use of the living policy, it can terminate the long-term bear market of the Chinese stock market and enter the orbit of the slow bull market, so as to attract a large number of OTC investors to enter the market with the stable and healthy development of the market and the effect of making money, so as to give full play to the function of the capital market in serving the real economy better.