Li Yining: When Do We Not Lower Interest Rates?

"When will we not lower interest rates?"

This is the latest view of Li Yining, a famous economist.

Li Yining said that from the data point of view, the number of M1 and M2 in China is not only large, but also maintained at a high level, but why do people still feel generally?

What are the reasons for this?

To solve this problem at the time point, it is impossible for us to reduce or reduce interest rates.

It is pointed out that, first of all, we should accelerate the improvement of the securities market supervision mechanism, vigorously develop direct financing and reduce the pressure of bank loans.

For example, the gem has greatly alleviated the lack of funds for technology enterprises.

Secondly, the central bank should change the way of monetary adjustment and change quantity into price adjustment.

Now the central bank has been making such adjustments, and it is recommended to continue to intensify efforts.

Third, a few years ago, in order to improve the economic environment and avoid overheating, the central bank has raised the deposit reserve ratio several times. After that, with the change of the economic situation, the reserve requirement ratio has been reduced.

So far, the deposit reserve ratio is still high and can be reduced moderately.

Fourth, we should try to solve the difficulties of the sunshine on the ground from the ground to the ground.

In some places such as Zhejiang, some private capital holders are afraid to turn to the ground because of some concerns. On this issue, it is suggested that a unified policy should be formulated to broaden the mind of private capital.

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The process of market driven institutional innovation has never stopped. After the formation of a new market model, it will spread like a virus, and the innovative mode of "PE+ listed company" is typical.

Silicon Valley paradise first created the M & a mode of "PE+ listed companies" in China in 2011. Behind this seemingly simple model is the "breathtaking leap" in Silicon Valley paradise and even in the development of PE in China.

In the M & a market, there is a high fever. PE agencies are frequently seen in the fixed growth plan of listed companies. This mode is also an attempt by many PE institutions and listed companies.

For the two sides, PE has added a new way on the basis of the original IPO exit channel. The listed company, with the help of PE's professional capital operation, will achieve the goal as soon as possible, thus achieving the win-win situation of both sides.

Since 2011, such cases have emerged one after another.

The mode of "listed company +PE" is also evolving. Taking Silicon Valley paradise as an example, the "PE+ listed company", which was first established at the beginning, set up the acquisition fund and evolved into PE to directly buy shares in the listed company to assist in mergers and acquisitions.

In addition, Tiansheng new material "rental shell" incident.

A senior market person told reporters that after three years of development, PE institutions are becoming an important force for A shares to participate in the trend of mergers and acquisitions of listed companies. As a result of such simple and easy replication, various investment companies have mushroomed, and their strength and share of the market have also been uneven.

It is reported that this year, more than 60 listed companies of A share, less than 30% of the actual M & A cases after the establishment of the merger fund.

Although the market is hot, there are many reasons behind the low success rate, but it also reminds investors, speculators and follow the great risks.