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Experts And Scholars: Gem Is Not A Privileged Investor To Make Money Tools.

2011/1/10 16:18:00 36

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At the fifteenth China capital market forum, which opened last weekend, experts and scholars sharply pointed out that there are still serious problems in the GEM market, such as frequent resignation of executives, large shareholders' assault on shares before listing and serious phenomenon of excessive fund raising, making the GEM market to some extent a privilege tool for investors rather than ordinary investors, lacking fairness and efficiency.

Reporters queried that as of yesterday, there were 158 enterprises listed on the GEM market, with an average price earnings ratio of 78 times, with a total market value of 756 billion 158 million yuan.

Realization

Financing is 122 billion 200 million yuan.

China's growth enterprise market has been established for more than 1 years. At the beginning of its establishment, it has many historical missions. Raising the proportion of direct financing of SMEs is one of them.

Ji Baocheng, President of Renmin University of China, proposed that the gem should improve the financing chain of innovative SMEs, accelerate the development of technological achievements industry, so as to truly implement the national independent innovation strategy, rather than become a tool for the super rich or privileged investors to make money.

Wu Xiaoqiu, director of the Institute of Finance and securities, Renmin University of China

Express

At present, there are nine major growth enterprise boards.

problem

First of all, the phenomenon of large shareholders' assault on shares is rather serious.

Some large shareholders basically do not participate in the risk taking process of the growth of enterprises, but directly grab high capital returns, "seriously undermining the fair principle of the market, seriously damaging the core value concept of capital value."

Liu Jipeng, director of the capital center of China University of Political Science and Law, has criticized the "three high" phenomenon and the issuing system of the gem. He believes that there are many loopholes in the current gem policy, which may lay hidden dangers for the healthy development of the capital market in the future.

Liu Jipeng said that on average, each gem only needs 250 million yuan of funds, resulting in an average of 770 million yuan for each enterprise and 504 billionaires for 158 enterprises.

"This is called igniting the entrepreneurial passion? I think it is a waste of entrepreneurial enthusiasm, from economics is a huge waste of efficiency, from a legal point of view is unfair, because there is no big business, is simply a redistribution of existing wealth."