Wu Jinglian: The Stock Market Defect Has Not Been Fundamentally Improved.

Li Yining, honorary president of Guanghua School of Management and famous economist at Peking University, believes that the growth rate of GDP7% and 6% points is normal in China's current situation. Wu Jinglian, a famous economist and researcher of the State Council Development Research Center, believes that China's stock market is like a casino without rules. Under the so-called "bull market" infection, the "herding effect" has attracted more retail investors, but ultimately, "we can not avoid the ups and downs of China's stock market in the past."

　　 On the new normal:

The economic downturn should not be strong. stimulate

Li Yining believes that economic laws are called normality, and very few countries have maintained GDP over 10% for many years, even 8% and 9% are difficult to maintain for a long time. He believes that the drawbacks of GDP's super fast growth are excessive consumption of resources, ecological destruction, overcapacity and low efficiency. But the most serious thing is that we missed the best structural adjustment period and the period of technological innovation.

　　 Li Yining Said: "the current economy is in the downside. We need not worry about it. This is the rapid growth of China's economy from ultra high speed to high speed. The growth rate of 6% and 7% in the world is still at the forefront. The key is structural adjustment, high and new technology, and personnel training. These three points are more important than anything else." He believes that in order to maintain a normal economic growth, in China's current situation, 7% and 6% points are normal.

　　 On the stock market:

China equity market Like a casino without rules.

As early as more than ten years ago, Wu Jinglian once said that China's stock market is like a casino. The day before yesterday, when it comes to the recent stock market boom, he said that China's stock market is not only like a casino, but also a casino without rules. It is a casino where people can see other people's cards.

Wu Jinglian worried about the recent hot stock market. He believes that the so-called "bull market" system is unstable and unstable, and the stock market has not fundamentally improved. We need to be very cautious, and we should focus our attention on how to establish the normal order of the stock market.

"The most likely problem for the stock market is information asymmetry. The main responsibility of the regulatory authorities is to improve the state of information disadvantaged among the general investors. We must enforce strict information disclosure system to prevent the wealth caused by asymmetric information and even insider trading." Wu Jinglian worries that "in a system that is not very sound, a certain" bull market "infection has created a herd effect and attracted more retail investors to participate.