Posted on Tuesday, January 2014, 1 14:11

[Guide] I’m too busy, I don’t have time to gossip. Facing the bearish capital market, I would like to ask the Chairman of the China Securities Regulatory Commission Mr. Xiao Gang concisely: Do you have any tricks in the reform of the stock market?

One question: Are good companies short of money?

As far as I know, the vast majority of really good companies in China are not short of money at all. Companies that are slightly optimistic and suitable for "making the game" come knocking on the door in an endless stream, one by one beautiful men and pretty women holding IPO symbols, carefully Teach you how to play hooligans and go public; but companies that really insist on starting a business and need capital have nowhere to go. Therefore, there are two situations for companies eager to go public: Either a bunch of bad guys want to "kidnap" good companies, let them learn bad things, go to the capital market to make a big profit, and then wave away. Take a look at what has been done by the listed companies and the huge amount of capital they have raised over the years? Either the gangsters pack a concept company or repair a shell, and then go to the capital market to steal it. Imagine if there is no strong and deep interest chain, can an empty shell that is not worth a penny go wild?

Question XNUMX: Is the pressure of queuing for listing irresistible?

The discerning person knows in their hearts how the pressure of more than XNUMX companies waiting to be listed can not be scared? I am afraid that even some figures at the level of "party and state leaders" can hardly resist. Can your chairman of the China Securities Regulatory Commission compromise? These queuing companies have explicitly or implicitly paid a heavy price for some institutions and individuals in order to "become a fairy". In the past few years, how many beneficiaries have interceded and put pressure on the A-share market. Can your SFC resist it? But whether these companies are sending real money or mixing water to the stock market, there is no need to ask God, the stock index situation has already explained everything. No, the IPO has just opened, and speculators who have been suffocated have become beasts and have difficulty in autonomy, and the China Securities Regulatory Commission has to stop urgently.

Three questions: Is derivative trading suitable for China?

In recent years, I have been paying attention to and researching the strategies and tricks of the western capital market, and I deeply feel that almost XNUMX% of the "derivative transactions" in the western capital market are not suitable for China, and will definitely mess up the capital market. The so-called plan by some returnees Derivative transactions of transformation and admonition are to introduce the evil of investment into China's capital market, and only the speculators, financial institutions and government finances can benefit. Is our government's finances so pitiful that we are willing to be dragged by financial speculative capital in order to collect a few dollars in taxes? The reason why derivative transactions in the West is "developed" is that the real economy is becoming weaker and weaker. To maintain a full capital pool, to pursue profit and fiscal revenue for financial institutions, you have to play virtual derivative games; and China has the strongest real economy in the world today. Basically, do I still need to play these three kinds of abuse? Take a look at what stock index futures call A-shares? The second is that the Western capital market has a complete and strict system and laws for derivative transactions and management. However, some of the rules that China has copied and taken out of context are just hypocritical arches of chastity, and behind this arch, there are bitches crowded together.

Four questions: Are the current stock markets good and bad for the national economy?

I hope that government officials and our conscientious financial professionals and entrepreneurs who are really committed to business will think about whether the current stock market is good or bad for promoting the development of the entire national economy. In my opinion: the obvious disadvantages outweigh the advantages. The so-called profit is nothing more than providing the shareholders of listed companies, a small number of institutions and individuals, and the national finance with free withdrawals and opportunities for easy access-and this contribution is mainly derived not from the value creation of listed companies, but directly from Investors in the secondary market "scrape blood". The so-called disadvantages are mainly: let good companies learn bad and no longer focus on physical operations, let bad companies steal capital, let financial institutions stay away from the real economy and continue to grow, and let China quickly form all kinds of capital speculation and expansion. The huge vested interest groups that have risen up have made countless small and medium-sized enterprises working in the real economy exhausting their lives, letting hundreds of millions of shareholders bleed their blood in hopes, cut their flesh in disappointment, and so on. In short, the current Chinese capital market has enveloped the entire national economy with a thick haze. Under the haze, many rats are stealing food. Do you think there are big advantages or disadvantages? Classmate Xiaoping said about the stock market that year: "Securities and stock markets, are these things good or not? Are they dangerous? ... We must resolutely try..., if you see it right, do it for a year or two. Let go; if you are wrong, correct it. Just close it. You can close it quickly, or slowly, and you can leave a little tail. It doesn't matter what you are afraid of, it doesn't matter if you stick to this attitude, and you won't make big mistakes."
Of course, it can't be closed, but Mr. Xiaoping's attitude is worthy of reference: Under the current situation, you can take the strategies of recuperating and rejuvenating, eradicating toxins, changing thinking, and deepening reforms.

Five questions: How to fight criminals and save the people?

The blackness of China's capital market can be said to have come and go without a shadow, without knowing ghosts. The rigid system, powerful power, and tightly planted relationship between the dignitaries and dignitaries have made the entire capital market calm and warm, but the deep-seated relationship of interests is scary. It is said that the reform of the new ruling group is very difficult to implement. Where is the difficulty? One of the biggest difficulties lies in the fact that all kinds of vested interest groups directly and indirectly control the financial capital market. In this situation, how do you Mr. Xiao Gang fight criminals and save the people? It would be difficult to increase all the personnel of the China Securities Regulatory Commission by ten times. Because your way of thinking and strategy is wrong. So, you have to change your thinking. The Third Plenary Session of the XNUMXth Central Committee only said one sentence in principle on the reform of the stock market: reform the issuance review system. Does this stump you? Not saying other things does not mean that you can’t do it, but let you do it creatively. Therefore, we must have the thinking and strategy of "shaking the sky and being different from before". Therefore, to fight gangs and save the people, one must respect and rely on the people, and second, trust and leverage China's conscientious financial experts-there are a group of such experts who have been cold-eyed and sad!

In fact, everyone knows that the functions and powers of the China Securities Regulatory Commission are very limited. Underneath the chairman of the China Securities Regulatory Commission is a hot chair. This job is really not fun, and the character sitting in this chair has nothing wrong with it. However, with regard to the current bearish appearance of the Chinese stock market, I would like to ask Mr. Xiao Gang: Have you ever, or dared to use a killer? Here, I would like to say three points, which will definitely enable the stock market to cultivate its interest and turn its head upwards, and gradually make the Chinese stock market steadily and steadily become the world's most powerful stock market:

The first measure: close all derivative transactions, end speculation and chaos, return all investment capital to the "right path", and serve the healthy operation of the national economy.

The second measure: Do not set a time limit to close the IPO until the capital market reform is successful, and then clean up the "Mr. Nan Guo" of the existing listed companies, then kick out one more and put in two; and then enter a benign operation Listing cycle.

The third measure: Establish a "China Stock Market Reform and Development Decision-making Committee" composed of popular and pragmatic financial experts, investor representatives and official representatives, and adopt democratic discussions and voting decisions on major reform matters.

The above three methods will neither threaten one-party governance and government governance, nor will they be restricted by a rigid system, nor will it place the Securities Regulatory Commission in a passive position, and are consistent with the spirit of the Third Plenary Session of the XNUMXth Central Committee. Why not? Unless you are afraid of losing power, afraid of taking responsibility for the failure of reform.

Source: Sohu