PI Haizhou: 2015 Stock Market "Not Bad Money"

This year, as many as trillions of dollars go into the stock market, this is indeed an exciting thing.

If there are 2 trillion and 800 billion yuan or even 5 trillion yuan of "live water" flowing into the stock market, this is enough to make the A share market go crazy for a while.

In other words, the A share market in 2015 welcomed a round of slow bull market, there is no problem at all.

But the problem is that these trillions of dollars are just wishful thinking by the brokers, or even just a piece of pie.

Whether these trillions of funds really flow into the stock market, it is clear that there is a lot of uncertainty.

In today's Chinese society, it is probably not true that money is not bad.

It is certainly not difficult to produce 2 trillion and 800 billion yuan or 5 trillion yuan of funds out of the stock market.

But will these funds go to the stock market? This is the decision of the owners of these funds, not the agencies such as CICC, Haitong Securities and so on.

From the actual situation, it may not be so optimistic.

Such as insurance funds, this is undoubtedly a big gold in today's Chinese society.

For example, in recent times, Ampang insurance has staged a "capricious" scene in the A share market, which has been throwing money into a large number of listed companies, and even become the largest shareholder of Minsheng Bank (600016).

Because of this, many people have stared at insurance funds on the issue of capital market entry.

But how much money will the insurance fund bring into the market? According to the original regulations, the proportion of insurance funds entering the stock market can reach up to 30% of the total assets (the new regulation has lifted the proportion limit), and the total assets of the current insurance fund of about 9 trillion yuan can be invested in the stock market fund of about 2 trillion and 700 billion yuan.

By the end of 11 last year, the proportion of venture capital entering the market was only 10.68%, which means that the capital invested by the venture capital can be increased by about 1 trillion and 700 billion yuan.

But the reality is that although the stock market has been rising since the second half of last year, insurance has been rising.

There was no significant increase in the market entry funds.

Today, the price of blue chips, especially the investment target of insurance funds, has surged sharply compared with half a year ago. Why is there any reason to think that insurance funds will be heavily invested in the stock market?

Moreover, in view of the actual situation, insurance funds can not be pferred from

It is good to withdraw funds.

After all, insurance funds do not lack investment channels.

For example, in the course of investment in 2014, the "alternative investment" of insurance funds is booming.

And on the last day of 2014,

It is also a good policy to set up private funds for insurance funds and to support the development of small and medium enterprises.

This not only meets the investment needs of insurance funds, but also caters to the needs of national policies and supports the development of small and medium-sized enterprises. This is undoubtedly a "win-win" situation.

As such, why should insurance funds be added to the stock market? What is more, the insurance funds are also going to go to Shanghai and Hong Kong through the sea?

It is also a high expectation for institutions to move their savings, so Haitong Securities expects 1 trillion yuan to enter the stock market.

But this is even more unreliable.

Although it is not impossible for residents to move their savings, it requires the stock market to show its charm.

Although the stock market has risen sharply in recent years, many investors have opened their accounts, but the stock market has made most investors earn no index or earn money, so that it is difficult for most investors to share the gains of the stock market. Such a market is obviously hard to attract more investors to join.

What's more, as the stock index goes up, IPO speeds up, the size of non cash increases, and the refinancing of listed companies flock, which will shake investors' confidence in the stock market.

Therefore, in view of the current market, trillions of dollars in capital market can only be regarded as a pie.

It is still possible for the management to further standardize the development of the stock market, improve the basic system construction of the stock market, and effectively protect the interests of investors.

On the contrary, the mad bull market like A shares will only further deter rational investors who are represented by foreign capital, leading to the withdrawal of foreign capital from the A share market.